[morsch]

Why? How about lack of faith in BTC long-term price stability but existence of faith in people buying mining hardware?

Depending on your evaluations on those things, it'd make sense to sell none of the miners you manufacture, or all of them, or some of them to hedge your bets.

Also, short-term liquidity. You need to pay for manufacturing in hard currency, and you may want to hold on to your own BTC or have other reasons for not wanting to pay for manufacturing with USD converted from BTC.