What Is the Difference between a “Long Hedge” and a “Short Hedge” in the Context of Mining?

A "short hedge" is what a pool operator typically uses: selling a futures contract on the cryptocurrency they are mining. This locks in a selling price for their future production, protecting them from a price decrease.

A "long hedge" involves buying a futures contract. This is used by entities that need to buy the asset in the future, like a manufacturer who needs the mined coin, protecting them from a price increase.