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> Normally when you buy a static IPv4 address you get a single "1.2.3.4"

Is it common to purchase (to own, not "rent" as what you get from cloud platforms) single IP addresses? I thought they were always bought/sold in blocks.

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No, in general, the smallest block of IPv6 addresses you can "own" is /24. You have to pay yearly fees to your RIR (Regional Internet Registry) as an ANS (Autonomous system). Think of it as owning land and paying a land tax.

I have a /24 registered in the early 90's. I pay no registration fees for it since it's a legacy block.

I should have said lease instead of buy, yes.

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