Edit: For a little more a month, you can get a Ryzen 3600, 64GB of RAM and much faster NVMe SSD: https://www.hetzner.com/dedicated-rootserver/ax41-nvme
To be clear, I'm taking about racking your own servers, not cloud "dedicated servers"
You do need to go a bit up in price for proper server hw - although there are a few aging xeon boxes with ecc ram on the low end now.
https://www.oracle.com/cloud/free/?source=:ow:o:p:nav:0916BC...
> Infrastructure
> 2 AMD based Compute VMs with 1/8 OCPU* and 1 GB memory each.
> 4 Arm-based Ampere A1 cores and 24 GB of memory usable as one VM or up to 4 VMs.
> 2 Block Volumes Storage, 200 GB total.
> 10 GB Object Storage.
> 10 GB Archive Storage.
Just to compare with Hetzner - you would typically be able to get 16 or 32gb ram, an i7 with 4 cores and 2x1tb disk (no ssd). I'm guessing single core performance might be higher than the arm offering - and a better fit for minecraft.
Ed: although maybe core count would win out with PaperMC?
Either way, it's auction page, may not always have the deals you're looking for in this price range
In the cheapest offers right now, there's a Intel Core i7-4770, 2x 2 TB Ent. HDD (spinning rust, not ssd) with 32 GB ram. And a xeon box with ecc ram (same, low price).