As the 8btc notes, the new generation of miners are less likely to keep mined coins, preferring to hedge price risks by opening short positions.
To survive the notorious “cryptocurrency winter”, miners increasingly have to become experts of the financial market and risk managers, using the maximum functionality of trading platforms. Short positions sometimes harm the miners themselves, struggling to maintain profitability.
Everyone is short-seller, we do this for self-defense but that will lead to a further decline in cryptocurrency price… Without short selling, we will be eliminated ultimately, but if everybody keeps doing this, we will finally die together, which is quite heroic.
As noted by jin, he mines cryptocurrency partly on video cards. Miner began operations in October 2017. According to him, in the first two months, Jin Xin earned more than in the past three years in other areas of activity.
However, this year the situation has changed dramatically and the miner had to develop his own strategy for surviving in a bear market. To build capacity, he bought cheaply used GPU farms from those who wished to quit the game. Immediately after the price fell below the break-even point, Jin turned off the farm and sold the video card to video game lovers. After waiting for some price recovery, he again bought up video cards in the secondary market and sold them to miners.