UPDATE: my reading comprehension is off...sorry to JoeQwerty and the OP. In your case, if the box isn't part of the existing Exchange Org and isn't even part of the existing domain in AD, then I would agree that powering it off is fine if you don't need any data off of it. Otherwise, the below is true for MOST scenarios where the server is in the current AD domain.
is it safe to power off and remove the old server?
Never simply power down an Exchange server to decommission it. It will leave lingering AD objects that will require using ADSIedit to properly remove them and will cause the other Exchange servers in the Org to misreport information in the event logs and in the GUI.
You can follow this if it is Exchange 2010: http://technet.microsoft.com/en-us/library/ee332361%28v=exchg.141%29.aspx
But really if it isn't the final Exchange server in the organization (which it sounds like it isn't), then you'll need to log into it and simply run the setup/uninstall and go through the uninstall wizard/screens to uninstall Exchange from that server. At that point you can shut it down.
If you simply can't get into it or the server is really off and isn't coming back then you'll need to use ADSIedit at that point...see here: http://thlnk3r.wordpress.com/2013/04/17/how-to-remove-legacy-exchange-servers-using-adsiedit-tool/
But if at all possible, uninstalling it properly is the way to go.