How Can a Pool Operator Use a “Put Option” to Set a Minimum Price for Their Mined Coins?

A pool operator can buy a put option on the cryptocurrency. A put option gives the holder the right, but not the obligation, to sell a specified amount of the asset at a predetermined price (the strike price) before the option's expiration date.

By buying the put, the operator sets a minimum selling price for their future mined coins, ensuring their revenue will not fall below the strike price, minus the premium paid.