Hibernation on Mac m1 just released yesterday. Just update your mac to MacOS Big Sur 11.3 to enable hibernation.
You can see the change log here:
to enable it you can use this command:
sudo pmset -a hibernatemode 25
just for your information based on
SAFE SLEEP ARGUMENTS
hibernatemode supports values of 0, 3, or 25. Whether or not a hibernation image gets written is also dependent on the values of standby
For example, on desktops that support standby a hibernation image will be written after the specified standbydelay time. To disable
hibernation images completely, ensure hibernatemode standby and autopoweroff are all set to 0.
hibernatemode = 0 by default on desktops. The system will not back memory up to persistent storage. The system must wake from the
contents of memory; the system will lose context on power loss. This is, historically, plain old sleep.
hibernatemode = 3 by default on portables. The system will store a copy of memory to persistent storage (the disk), and will power memory
during sleep. The system will wake from memory, unless a power loss forces it to restore from hibernate image.
hibernatemode = 25 is only settable via pmset. The system will store a copy of memory to persistent storage (the disk), and will remove
power to memory. The system will restore from disk image. If you want "hibernation" - slower sleeps, slower wakes, and better battery
life, you should use this setting.
Please note that hibernatefile may only point to a file located on the root volume.
So by default, the hibernate mode for a MacBook is 3, other device(imac, mac mini) is 0.
Actually, 3 is safe mode and uses very low energy also wake up faster, my MacBook can live for weeks just using this mode. So I recommended staying in default mode.