How can I increase the revenue on this site in 2016?
Here's an example of the effect it creates: https://www.youtube.com/watch?v=8GfKBvs53Ss
When users click through and buy something, you'd get a percentage of the sale. It could also be a lot more beneficial to users than just showing banner ads.
If you combine it with actually providing a benefit (i.e. a diamond block linking to the wiki page on diamond blocks), your users might very much appreciate the functionality.
It's a fairly standard model for monetising a website - essentially the next stage up from monetising via an RTB platform like Adwords, in that you put a bit more work in choosing and testing appropriate offers, but (should) end up with higher CPMs as a result.
Also, revshare is entirely possible with a lot of affiliate deals, and even if it's not offered "out of the box", it's possible to negotiate it if you want to. There are pros and cons to that approach - it's definitely not a straightforward "revshare is better" equation.
If the OP has expertise with system administration and Minecraft hosting, plus the copywriting, customer support and sales ability, starting a second business in Minecraft hosting to monetise the site is also a valid potential option, but it'll eat a lot more time that OP may not have, and has its own failure modes that just running a leadgen business doesn't.
If that's so, making sure you are very mobile-friendly and looking at app-install ad networks might be better than adsense.
Minecraft hosting affiliate program. Bonus if they have a recurring cost per sale model