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06/02/26 11:08 UTC-04

Mining Company Stocks Plunged After Earnings Reports

Shares of CleanSpark (CLSK) fell 19.13% during the main trading session and dropped an additional 8.6% after the close, reaching $7.55. On Friday, February 6, the price saw a slight premarket recovery to $8.06.

According to the company’s October–December report, CleanSpark’s revenue totaled $181.20 million, 2.9% below analysts’ expectations. Net loss reached $378.7 million, compared to a net profit of $246.8 million in the same period of 2024.

CleanSpark stated that it no longer intends to focus primarily on cryptocurrency mining. In search of new revenue streams, the company is turning to artificial intelligence, which it expects to help monetize assets in the long term.

Shares of mining company IREN dropped 11.46% during the main session and fell another 18.5% after hours to $32.42. In the last quarter of 2025, the company’s revenue amounted to $184.69 million, 16.49% below forecasts. Net loss reached $155.4 million, contrasting with a $384.6 million profit in the same period of 2024. IREN also announced plans to shift its focus from mining to AI.

The sharp decline also affected other major mining firms: shares of RIOT Platforms (RIOT) fell 14.71%, while MARA Holding (MARA) dropped 18.72%.

The decline in revenue and profits is linked to a sharp drop in mining profitability. Today, all Bitcoin miners collectively earn only $28 million per day — the lowest level in the past year, according to Luxor Technology. The situation is driven by two factors: the fall in Bitcoin’s price and a sharp rise in electricity costs. Many large mining companies are forced to shut down equipment as operations become economically unviable. The hash price index, which reflects miners’ earnings per unit of computing power, has fallen to 3 cents per terahash. For comparison, this figure was $3.5 in 2017, Luxor Technology experts noted.

Over the past 24 hours, Bitcoin’s price dropped nearly 10%, briefly falling to $60,000 on Friday, February 6. The total cryptocurrency market capitalization declined by almost 9%, according to CoinMarketCap. Over the past month, Bitcoin’s price has fallen by 30%, significantly worsening market sentiment. The Crypto Fear & Greed Index dropped to 9 out of 100 — the lowest level since the collapse of the Terra project in May–June 2022.

See also: "GoMining: The Bitcoin Network Has Entered a New Zetahash Era"

#Mining #Shares

Editor: Yulia Krasnaya
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