The damping effect is that part of your costs are the hardware, space, depreciation etc. leaving that stuff idle costs money - so it makes sense to mine in the less profitable periods too.
The best miners are doing so with near free electricity, either with things like subsidized solar, or energy acquired from things like nat gas that'd otherwise get flared, or hydroelectric power that exists too far from civilization to have a demand otherwise.
If your miner is plugged into the grid, you're probably doing it wrong.
I guess you could share the power supply and cooling infra, but I am dubious the savings are enough to have half your silicon idle all the time.
Mining ASICs (Bitcoin, etc.) cannot be repurposed…they’re hardwired for a single hash algorithm and lack matrix math needed for neural networks.