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A Comprehensive Guide to Smart Mining in a Bear Market

Over the past few months, we’ve seen a slew of videos coming out from the crypto mining community discussing different options that you have as a crypto miner in the bear market. I’ve been particularly interested in this topic and have decided to delve deeper into smart mining within the bear market context.

There are typically three options you can consider really during this time, namely: selling your GPUs to come out financially even or without a significant deficit, turning off your rigs and start mining after the bear market, and mining throughout the bear market.

Benefits of Continuing to Mine through the Bear Market

If you’ve elected to continue mining through the bear market, kudos to you! It means you’ve made some sound financial decisions or you’re willing to take some risks with your mining operations.

Why continue mining exactly as you are but pivot the method that we get paid out? This might sound a bit confusing, but let me explain further.

Optimizing Your Crypto Mining Operations

If you’ve decided to power through the bear market and continue mining, it means you’re prepared to make some strategic decisions to ensure that you come out on top when the bear market ends.

I’m talking about smart mining, i.e., mining a particular cryptocurrency (like Ethereum or Ethereum Classis) but getting paid out in Bitcoin. It’s an approach that’s been fascinating me for months now, and with the bear market taking its toll, it seems like the perfect time to discuss it.

Understanding the smart mining strategy

Now, you might be wondering, why get paid in Bitcoin when we’re mining Ethereum? The simple answer is that Bitcoin, though currently low in value, will eventually rise. Almost everyone in the cryptocurrency community agrees that Bitcoin will surge again. In other words, by mining Ethereum but getting paid in Bitcoin, you’re banking on the future value of Bitcoin.

Three types of crypto smart mining

To make this approach more straightforward, we will discuss three methods on how to mine Bitcoin within Hive OS. These methods include; Two Miners, Nice Hash, and Unminable.

Two Miners

Starting with Two Miners, make sure you have your Bitcoin wallet and then create a new Wallet within Two Miners. You’ll list the coin as Ethereum but put your Bitcoin wallet address in the address field. Proceed to create a flight sheet, select Ethereum as your coin and the new wallet you’ve just created, and select Two Miners as your pool.

This system will allow Two Miners to identify that you’re mining Ethereum but want your payout in Bitcoin. Over time, you’ll see that you’re mining Ethereum effectively the same way as before, but your payout will be in Bitcoin.

Nice Hash

Nice Hash has a slightly different approach. Once you set up a Nice Hash account, you can see all your active rigs for mining. Again, just like Two Miners, the setup will be the same, but the payout will be different. The payout will be received in the Nice Hash Wallet, which mines to the unpaid balance, then transferred to the Bitcoin wallet balance every two hours, amounting to .0005 BTC.


Unminable offers an entirely different approach to smart mining. It allows you to mine Proof-of-Stake coins that you can’t typically mine. Unminable gives you the instructions on how to set up your mining operations, listing multiple server options to choose from. Just like the previous methods, you mine one coin but get paid out in another, Bitcoin, in this case.

With unminable, you can manually pay out your coins, giving it a slightly different payout option to Two Miners and Nice Hash.


If you’re mining during a bear market, it doesn’t mean you have to lose out or stop your operations entirely. The critical factor is to adapt and take calculated, strategic decisions to optimize your mining operations during these periods.

By employing smart mining strategies such as mining Ethereum but getting paid out in Bitcoin, you’re banking on the future value of Bitcoin while keeping your mining operations running smoothly.

You have options, so think outside the traditional mining box and start making strategic moves as a crypto miner.

This practical guide to smart mining during a bear market helps you understand the strategic moves you can make to keep your mining operations viable and profitable during challenging market situations.

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About the Author: Mike Izzo


  1. This is a poor information!! Does not make sense!!…..
    You are comparing the mining in the pool with a calculator (what to mine), it is totally wrong! , because if the pool is very lucky it will have a higher profit than the calculator that considers all the miners working in all the pools that exist. Also converting eth to btc doesn't give you more money, it's simple math!
    A good study would be for you to divide the rig into two and have them work on the same pool, but each one with a different eth account, one where they pay you with eth and the other where they pay you with btc. And surprise, there is no difference!
    I did this study a year or more ago, with 8 gpus comparing two mining pools (4 gpus each) for 6 days, my study was to determine if a small pool (2.32% hasrate) was more profitable than a large pool (21.5% rate). Even every 24 hours I rotated two groups of gpus from one pool to another, this in case one group was more efficient doing shares than the other.

    I appreciate your time invested and the intention of wanting to help the mining community, but the information you show is very superficial and wrong. I hope without offense that it is not a video paid for by 2miners.

    By the way, the pools in my study were 2miners and Ethermine in March 2021. I will not share the answer because it will not help decentralization…….ha ha… know which one right?

  2. As someone who doesn't have a lot of time and has to "mine on a budget" you've confirmed some train of thought ideas I've had for myself of what I've been doing personally. So it's nice to see someone on a much bigger scale than myself taking a similar action under somewhat similar circumstances card wise with the parameters set forth in the video.

  3. I like the idea and it is definitely worth looking into. One question I have is, isn't the conversion from ETH to BTC a taxable event? If so, I would try to look into reducing the number of events within a calendar year.

  4. I'm having a tough time understanding the analysis between ~10:13 and ~11:57
    where it's said that it's more profitable to mine ETH->BTC on 2miners

    when ETH->BTC ETH->BTC is $3.36 over 18hrs and ETH->ETH is $9.74 over 24hrs

  5. I plan on building AND mining through the DIP I might "pull" my VEGA card during the HOT season fur MY comfort as I live in Canada and DO NOT have proper aircon in my house and the vega is BRUTAL
    VS the 6600XTs and the 470 8 gig and the 5700s I "have in the mail"

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