Valve has finally revealed pricing for its Steam Machine after more than seven months of speculation, and the cost exceeds most expectations. The base model with 512 GB storage launches at $1,049, positioning it significantly above competing consoles like the Xbox Series X and PlayStation 5. This premium pricing comes despite the hardware offering less storage than current-generation consoles.

The 2 TB variant costs $1,349, creating a $300 price gap that exceeds what consumers would pay for a retail NVMe SSD of similar capacity. Bundles with the Steam Controller start at $1,228 for the 512 GB model and reach $1,428 for the 2 TB configuration. These prices place the Steam Machine in high-end PC territory rather than traditional console competition.

Pre-orders open through a randomized lottery system rather than first-come-first-served. Interested buyers must register before June 25th and maintain a Steam account with at least one purchase made before April 27th. Each household faces a one-unit limit, and late registrants join a randomized waitlist. Valve claims this approach reduces frustration and prevents scalping.

Geographic restrictions apply, with Japan, Taiwan, and Hong Kong requiring retail purchases while South Korea receives no shipments initially. The pricing and limited availability suggest Valve is targeting enthusiasts rather than mainstream adoption, which may limit the Steam Machine's impact on the living room gaming market.