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Can your server handle 2TB of data? That question cannot be answered as it depends on so many things. if all your doing is serving up files then that could eat up 2TB without much strain on the system. If you've got a lot of traffic requesting CPU intensive scripts, then your server may have a hard time depending on how it's setup and configured.
Your always going to have a bottleneck somewhere. If you've got a load of 70% on you system then you need to find the bottleneck, get some monitoring in place because it could be any number of things. It could be that mySql needs to be performance tuned, or maybe apache is doing things it doesn't have to. Maybe you need more memory, maybe your CPU is slow, maybe your PHP script is written poorly.
Nobody can answer your question but you, after you do some research.
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