How can I run a 24/7 server for cheap?
For how many people should your Minecraft server be good and are you using plugins? How many people will be accessing your website? How are you going to solve the question of a dynamic IP? What about a domain for your website?
You can run a webserver easily on a Raspberry Pi, but it will only be good for a handfull of simultaneous requests and less complex server frameworks. Not to mention Minecraft. A Pi cluster is a pretty nice way - of burning money in your case.
For a small webserver and/or NAS an Atom or Celeron chip (ideally even a low power version soldered on to a mainboard) would be good and reasonably cheap - and even cheaper to run due to very low power consumption (TDP around or even below 10W). Depending on your OS of choice you could be good with 2-4GB of memory (8GB if your run FreeNas).
Minecraft needs some dual core with decent single thread performance. You don't need a dedicated GPU for either of those applications, iGPU is sufficient.
Now, if both services should run parallel, you'd probably want a quad core with above 2GHz and something around 4 or even better 8GB of memory. At this point you're in 50W and above TDP territory and you're looking (new) at 200-ish (higher TDP, non-soldered combo) or even 400-ish (lower TDP, soldered CPU combo) bucks. Add in memory, a psu and your system drive and you're looking at something around 400-600 bucks.
Then there are the costs of a domain, a dynDNS service for your (presumably) dynamic IP.
It would probably be a lot cheaper and a lot more reliable to just pay a monthly fee for a vserver - or get used hardware. But then there are your running costs...
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