From Mineserver Wiki
Installing Mineserver (from source) on the raspberry pi is surprisingly easy!
Mineserver was first compiled on the Raspberry Pi on Wednesday 8th August 2012 NZST. Using commit e973517e24 
Gameplay and Performance
Initial generation of spawn area takes about 20 seconds. Connect using the official Minecraft 1.3.1 client. By default Mineserver operates in 'online' mode and will check with the Mojang login server. You can disable session verification by setting system.user_validation = false; in config.cfg.
Generating chunks uses about 90% cpu so try not to sprint into new areas quickly because your client will issue a "Read Timed Out" message. When chunks are not being generated approximately 1.6% cpu is used with one player walking, digging etc.
When initially started, it used about 47% of the raspberry pi's memory but now sits at about 18% with one player.
- Logging in
- Chat (including server console chat)
- Chunk saving
- Block breaking/placing
- Mobs - including killing and getting drops
Requirements to Build
Mineserver depends on the following libraries.
- libnoise - land generation
- libevent - asynchronous event notification software library.
- libssl - For secure network communication
- libncurses - For the curses interface
Additionally you will need the following tools to build Mineserver
These instructions are intended for Raspbian “wheezy” - the recommended Linux distro.
Because my Raspberry Pi is not connected to the internet, I compiled all the required libraries from source [which took ages] so I cannot vouch for the correctness of these commands assuming your pi is connected to the internet.
Please run these commands under the normal 'pi' user not root.
- The command 'make' will take a long time to compile and will spit out warnings which is usually normal.
- the executable file will be located in /home/pi/src/mineserver/bin unless you specify something else.
- ./mineserver starts the server once successfully compiled.
- When running CTRL + C stops the server gracefully.
sudo apt-get update
sudo apt-get install libncurses-dev libnoise-dev libevent-dev libssl-dev cmake git-core
mkdir src && cd src
git clone git://github.com/fador/mineserver.git
Pressing CTRL + C will gracefully stop the server.