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Shares of mining companies declined following the release of their financial reports., 2026/02/06 15:33:30
Shares of major mining firms experienced a significant decline on Thursday, February 5, following the release of their financial results for the last quarter of 2025, which fell short of analysts’ expectations. The drop in stock prices coincided with a continuing decline in cryptocurrencies that has persisted for over a week.
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CleanSpark (CLSK) shares fell by 19.13% during the main trading session and dropped an additional 8.6% after hours, reaching $7.55. On Friday, February 6, the pre-market price adjusted slightly to $8.06.
According to the company’s report for October to December, CleanSpark’s revenue amounted to $181.20 million, which was 2.9% lower than analysts’ forecasts. The net loss reached $378.7 million, contrasting with a profit of $246.8 million during the same months in 2024.
CleanSpark stated that it no longer intends to focus on cryptocurrency mining. In search of new revenue streams, the company is looking towards artificial intelligence, which it believes will help monetize assets in the long run.
Shares of the mining company IREN fell by 11.46% during the main trading session and lost another 18.5% after hours, dropping to $32.42. For the last quarter of 2025, the company’s revenue was $184.69 million, which was 16.49% below forecasts. The net loss reached $155.4 million, contrasting with a profit of $384.6 million for the same period in 2024. IREN also expressed its intention to shift from mining to AI.
The sharp decline also affected other large mining companies: shares of RIOT Platforms (RIOT) dropped by 14.71%, while MARA Holding (MARA) shares fell by 18.72%.
The decrease in revenue and profits is linked to a significant reduction in mining profitability. Currently, all Bitcoin miners collectively earn only $28 million per day—this is the lowest figure in the past year, according to experts at Luxor Technology. The current situation is attributed to two factors: the decline in Bitcoin prices and a sharp increase in electricity costs. Many large mining firms are forced to shut down their equipment as its operation becomes economically unfeasible. The hash rate index, which reflects miners’ earnings per unit of computational power, has dropped to 3 cents per terahash. In comparison, this figure was $3.5 in 2017, as noted by Luxor Technology specialists.
Over the past day, the Bitcoin price decreased by nearly 10%, briefly falling to $60,000 on Friday, February 6. The total market capitalization of the cryptocurrency sector has shrunk by almost 9%, as reported by CoinMarketCap. Over the last month, Bitcoin’s price has dropped by 30%, leading to a significant deterioration in market sentiment. The crypto investors‘ fear and greed index has fallen to 9 points out of 100—this is the lowest level since the collapse of the Terra project in May-June 2022.
