Contemplating what strategy I should use for the funds I am earning from mining. Currently I’ve been converting the BTC earned into $$ to pay off the debt incurred by buying GPUs for mining. But is that best strategy?

One of two things will happen: mining profitability will gradually fall to values where electricity cost overtakes profits, or mining profitability will continue indefinitely (or at least for the long term).

If all BTC earnings are kept as BTC, and the price tanks, then all earnings are worthless.

If all BTC earnings are converted to $$ right away,  then you are not capturing on the increase of BTC in value. We’re already quite high in value. In the short term I don’t think the BTC value will sky-rocket to double what it is today. That is very unlikely. Perhaps in the long run, but likely not in months.
As with any business, priority one is to pay off the initial investment. In my case since the GPUs still have value, I’ll place a value of 40-50% on them on the used market, since if it comes to selling them off, the market will be flooded with GPUs.

In the short term converting the BTC to $$ will protect against large losses. It’s much easier to imagine the BTC price fall dramatically (by 5-10 times) then doubling again in the next few months. A price doubling would bring a gain of 2 times. If the price drops by 5-10 times, then that’s a much harder hit to my $$ wallet.

My strategy for the short term is to convert all mining earnings to $$ at the highest exchange possible, to protect myself against the potential loss.