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I have the exact the same issue. It seems related to my configuration (eGPU with extra monitor). It occurs when I installed Big Sur.
Same, for my 2018 mini. Kernal panics when i upgraded to Big Sur... such as pos OS.
 
Hello all, I found the thread because I was having similar issues. Two monitors connected, but even after I removed one monitor and a USB switch (which I need because of the irritating trend from Apple to provide fewer and fewer ports on their computers) it was still happening. In the brief moments between repeated crashing and self-restarting, I observed that my MacMini M1 (late 2020) seemed to be getting stuck trying to access the internet - network preferences would show a blank window saying "no networks", the antenna icon up in the menu bar would pulse for about 45 secs, then the whole thing would go dark and do a (silent) restart (light on Mac stayed on the whole time). I realized we had Access Control turned ON on our router (blocking/hiding our network from any outside devices, my Mini being one of the "allowed" devices). We now turned that off, and the issue seems to be gone.. I am continuing to experiment because I would like to use access control. As well as 2 monitors. [I like privacy. I like seeing what I am doing. And maybe even a directly wired printer? The audacity!! - ok enough snarkasm] - I hope we all can drill down on this together and find a final solution / problem definition to send to Apple!
 
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Like Fishrrman said, if you want a complete shutdown of your machine, un-plug it from the powersource.
Otherwise, just put it to sleep mode.
I had to sent my PC monitor to the repair shop once because of my bad habit of leaving it plugged in 24/7.
The guy in the repair shop told me that the PSU of the LCD monitor had been a total mess. Luckily it was only the PSU that went down, not the entire house because of fire.
Computer nowadays are very fast in booting up.
I don't see any need to sleep and wake my new PC, with gen 4 nVME and DDR4 ram.
Booting up time is almost the same as waking up time.
 
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