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What Is the Risk a Miner Retains Even after Paying a Pool Fee?

Even after paying a pool fee, the miner retains the price risk of the cryptocurrency they are mining. The pool fee hedges the variance risk of finding a block, but it does not lock in the selling price of the coin.

If the cryptocurrency's price drops significantly, the miner's revenue in fiat terms will decrease, potentially making the operation unprofitable despite the stable coin payout from the pool.

How Does a miner’S Individual Hash Rate Relate to Their Portion of the Pool’s Variance?
How Does a Miner’s Break-Even Point Change after a Halving?
What Is “Pool Variance” and How Does It Affect Mining Profitability?
In Both Cases, Who Is the Party That Assumes the Risk?