Need to capture 8 HDMI video feeds and transcode to H264/AAC. Budget is $3k

So far i've explored two options

Option 1
8 x BlackMagic Intensity cards in 2x1U server where transcoding will be done

Option 2
8 x Portable HDMI capture units from Hauppgauge or Blackmagic
Transcoding done on the units

To me,
Option 1 is a bit pricy to set up
Option 2 has some limitations: Hauppauge StreamingEez-PRO only allows to connect 4 units to its software. Did not do my homework on Blackmagic yet.

Any recommendations? Has anyone tried the 1U HDMI>TS encoders from China?

Thanks in advance.