While the M2 Pro Mac mini logic board is bigger than say the M1 Mac mini logic board, it's still way smaller than the actual current Mac mini chassis, meaning there is still a lot of empty space in the current Mac mini. And while there are 8 NAND pads on the M2 Pro Mac mini logic board, they don't truly take up that much space as there are only 4 pads per side of the logic board. Basically in terms of logic board area, it only takes up the real estate of 4 pads, because both sides of the logic board are used. Furthermore, the current logic board has some areas of empty space with no chips at all. So, I don't see much of an issue putting the M4 Pro into a reduced Mac mini. BTW, I should point out that the Mac mini is quite a bit larger in volume than the M3 Max MacBook Pro, and the Mac mini doesn't even have a screen, keyboard, or touchpad.
My main wonder is how big the heatsink and fan will be, and what will be the configuration of the power supply.
+) 185 W max continuous : M2 Pro : Mac Mini :
https://www.apple.com/in/mac-mini/specs/
If the average computer wattage of home users is reducing year on year (but the heavy lifting users needs is outpacing the performance per watt gains in transistor lithography) then for the Mac Mini, Apple can fix the maximum internal volume that an aluminium heatsink can dissipate heat in 2024.
(My guess is the new max continuous power will be 125 watts)
M6 on (2027 on TSMC 1.4nm) would give Apple plenty of capacity to grow the NPU / GPU without being thermally constrained.
+) 295 W max continuous : M2 Ultra : Mac Studio :
https://support.apple.com/en-gb/102027
It has been reported that the 2025 Mac Studio (and Pro) is being beefed up in response to underwhelmed users that compared it to the Nvidia 4090 (roughly twice as performant as the highest spec Apple).
If a hypothetical 600W Apple M2 machine was required to compete with the Nvidia 4090, and next year, power users will be comparing the Mac to the 5090 (which is being estimated as 50%-70% faster than the 4090) - then what Apple needs to build will need to be something equivalent to a 960W M2 machine.
If the M4 is twice the performance per watt of the M2 - this would necessitate a 500W continuous output machine.
If Apple increase the height of the Mac Studio by 30% - and upgraded one side of each of the Copper heatsink finds to have a 17micrometer PGS (Pyrolytic Graphite sheet) which has 4 x the thermal conductivity of Raw Copper :
https://docs.rs-online.com/aff4/0900766b811810f2.pdf - it would not surprise me if this could add at least another 30% of cooling rate - enough to increase the continuous heat output to be 500W of power.
As (I believe) this is doable in a 30% taller Mac Studio - and also don't think existing Mac Studio users would upgrade to the heft of an Mac Pro - I wonder one reason the Mac Studio is being delayed is fine tune an uprated maximum thermal capacity; And if the new Studio Can dissipate 500Watts continuously - its seems more likely to me than not that the Studio and the Pro will both offer same highest spec SoC.