The issue you will face is having to do server side transcoding for content your TV cannot natively play. You want to avoid transcoding at all costs, it has a high resource overhead (more power usage, heat etc), it will slow performance and response of video playback (Pause, Fast Forward/Rewind, Seeking etc) and will have a tendancy to mess up playback where hiccups in transcoding occur.
A far better and cheaper solution is to buy a NAS with suitable space/network specs and a Raspberry Pi running OpenELEC/KODI and playing files natively.
It will be cheaper, offer better update support and a variety of formats that your TV will likely never get updated with/support. I find TVs are HUGELY fussy with what formats they support, that's ignoring things like subtitles and other quirks which some formats will present.
If it's just for content you will encode yourself and nothing else then you can probably get away with it, as you can chose whatever format your TV supports. Just....consider what other things you might want to do. I have a Samsung Smart TV and I use NONE of the Smart TV features because it is:
- Slow
- Crashes
- Does not work on a whim
- Unstable
- Not updated
- Omits some apps due to exclusivity clauses or otherwise
My Pi2 with OpenELEC serves that purpose entirely now.