How do you reset the SMC on a Mac mini 2020 M1 chip?

Actually you cannot.

An article side-by-side explains the two versions intel-mac and M1 Silicon.

• How to Reset the SMC on an M1 -or- Intel Mac | MacWorld UK

https://www.macworld.co.uk/how-to/reset-smc-mac-26444/

• All the new ways of doing things on M1 Macs - macworld uk

https://www.macworld.co.uk/how-to/how-to-m1-macs-3801104/

There are other mysteries resolved among Apple Support's own articles.

Generally..

• M1 | Releases Features Specs Rumors - appleinsider

https://appleinsider.com/inside/m1

• Use macOS Recovery on a Mac with Apple Silicon - Apple Support

https://support.apple.com/guide/mac-help/macos-recovery-a-mac-apple-silicon-mchl82829c17/mac

You can also use macOS Recovery to perform the following tasks:

• Start up your computer in safe mode
• Set the default startup volume and restart your computer

Lots of stuff is a little bit different. ~ macOS Recovery is a portal.