[MC-45208] Server Keeps freezing

Hello

I have been running a server for a long time just for me and my friends and have never had a problem. We updated the server to the knew snapshot 13w03b and know after about 1 minute on the server it just freezes and crashes and then gives us an error saying something about java. It has never happened to us before and is getting very annoying because it is unplayable. We are playing Survival on an Amplified world which was generated in 1.7.4 roughly(Some time in 1.7). I have 16GB of ram and allocate 8 of them to the server and another 8 to my minecraft which works well on the jar or bukkit. Here is the log of the server

[16:13:32 INFO]: Starting minecraft server version 14w03b
[16:13:32 ERROR]: Exception handling console input
java.io.IOException: The handle is invalid
	at java.io.FileInputStream.readBytes(Native Method) ~[?:1.7.0_51]
	at java.io.FileInputStream.read(Unknown Source) ~[?:1.7.0_51]
	at java.io.BufferedInputStream.read1(Unknown Source) ~[?:1.7.0_51]
	at java.io.BufferedInputStream.read(Unknown Source) ~[?:1.7.0_51]
	at sun.nio.cs.StreamDecoder.readBytes(Unknown Source) ~[?:1.7.0_51]
	at sun.nio.cs.StreamDecoder.implRead(Unknown Source) ~[?:1.7.0_51]
	at sun.nio.cs.StreamDecoder.read(Unknown Source) ~[?:1.7.0_51]
	at java.io.InputStreamReader.read(Unknown Source) ~[?:1.7.0_51]
	at java.io.BufferedReader.fill(Unknown Source) ~[?:1.7.0_51]
	at java.io.BufferedReader.readLine(Unknown Source) ~[?:1.7.0_51]
	at java.io.BufferedReader.readLine(Unknown Source) ~[?:1.7.0_51]
	at mf.run(SourceFile:68) [minecraft_server.14w03b.jar:?]


Here is another one in the crash log folder.

---- Minecraft Crash Report ----
// Quite honestly, I wouldn't worry myself about that.

Time: 17/01/14 7:43 PM
Description: Exception in server tick loop

java.lang.OutOfMemoryError: Java heap space
	at dv.a(SourceFile:25)
	at dx.a(SourceFile:355)
	at dx.a(SourceFile:39)
	at ef.a(SourceFile:41)
	at dx.a(SourceFile:355)
	at dx.a(SourceFile:39)
	at dx.a(SourceFile:355)
	at dx.a(SourceFile:39)
	at eh.a(SourceFile:121)
	at eh.a(SourceFile:86)
	at ara.a(SourceFile:63)
	at nc.f(SourceFile:129)
	at nc.c(SourceFile:80)
	at nb.<init>(SourceFile:36)
	at na.a(SourceFile:228)
	at na.a(SourceFile:265)
	at lx.a(SourceFile:166)
	at lx.c(SourceFile:218)
	at lx.a(SourceFile:107)
	at nx.c(SourceFile:87)
	at nx.a(SourceFile:52)
	at ev.a(SourceFile:174)
	at nm.c(SourceFile:134)
	at net.minecraft.server.MinecraftServer.u(SourceFile:545)
	at md.u(SourceFile:264)
	at net.minecraft.server.MinecraftServer.t(SourceFile:461)
	at net.minecraft.server.MinecraftServer.run(SourceFile:377)
	at lt.run(SourceFile:647)


A detailed walkthrough of the error, its code path and all known details is as follows:
---------------------------------------------------------------------------------------

-- System Details --
Details:
	Minecraft Version: 14w03b
	Operating System: Windows 7 (x86) version 6.1
	Java Version: 1.7.0_51, Oracle Corporation
	Java VM Version: Java HotSpot(TM) Client VM (mixed mode, sharing), Oracle Corporation
	Memory: 9024 bytes (0 MB) / 259522560 bytes (247 MB) up to 259522560 bytes (247 MB)
	JVM Flags: 0 total; 
	IntCache: cache: 0, tcache: 0, allocated: 12, tallocated: 94
	Profiler Position: N/A (disabled)
	Player Count: 4 / 5; [ng['vassa01'/208, l='world', x=-7514.30, y=135.25, z=-1569.30], ng['Justin937'/701288, l='world', x=-7629.04, y=93.00, z=-1013.28], ng['delmolisher'/522578, l='world', x=-7773.70, y=119.00, z=-1390.50], ng['delmolisher'/715427, l='world', x=-8241.30, y=74.00, z=-1247.87]]
	Is Modded: Unknown (can't tell)
	Type: Dedicated Server (map_server.txt)