Correct. I have a 5 node Fujitsu esprimo D756/D757 cluster that has i5-6500 CPU's and 96GB RAM and 5x NVMe + 5x HDD that usually sits around 80W total. Removing HDD and reducing RAM would drop the power usage but in my case it's not important to go after the last Watt.

I bought them them for 50 euro a piece without RAM and disks.