The Toslink out from the Mac Mini has very poor jitter performance. It would be worth comparing that to USB from the Mac Mini directly to the Bel Canto DAC3, which has a USB input.
An inexpensive USB to SPDIF converter, such as the HagUsb, may or may not be an improvement over Toslink. Bel Canto's USB add-on gets you 24/96 via USB and, I expect, also gets you much better performance across the board. A device like the Empirical Audio Offramp takes it up another notch or two and leaves Toslink in the dust.
An inexpensive USB to SPDIF converter, such as the HagUsb, may or may not be an improvement over Toslink. Bel Canto's USB add-on gets you 24/96 via USB and, I expect, also gets you much better performance across the board. A device like the Empirical Audio Offramp takes it up another notch or two and leaves Toslink in the dust.