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
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).
Either way, it's auction page, may not always have the deals you're looking for in this price range
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?