The reset button on these only power cycles the controller, it does not touch the config at all.
Here is what the ip set button does:
1-5 second button press = send locator packet
5-15 second button press = full factory reset(this will also result in IP being reset to DHCP)
15-30 second button press = change IP mode between DHCP and static
When using the ip set button to set to static it should set the miner to the following IP settings:
IP address: 192.168.1.254
netmask: 255.255.255.0
gateway: 192.168.1.1
primary DNS: 8.8.8.8
secondary DNS: 114.114.114.114