You’ve outlined many of the operational and strategic upsides really well - especially the fact that mining creates both an asset base and recurring BTC flow, which is often overlooked by pure HODLers.

From my experience, the key advantage is compounding with optionality: daily BTC payouts give you the flexibility to sell a portion for operating costs or reinvest, while keeping the rest as a long-term stack. That flexibility can be a huge edge in volatile markets.

That said, there are moments when buying and holding can outperform - especially in regions with high power costs or unstable regulation. In those cases, the absence of operational risk makes HODL cleaner. But when you have a sustainable power price and a scalable setup, mining often wins in BTC terms over multi-year horizons.

It really comes down to risk-adjusted BTC accumulation - and mining, done right, shifts that curve in your favor