{"id":94003,"date":"2026-02-06T11:50:19","date_gmt":"2026-02-06T08:50:19","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=94003"},"modified":"2026-02-06T12:36:38","modified_gmt":"2026-02-06T09:36:38","slug":"bitcoin-miners-power-down-en-masse-as-losses-hit-records","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bitcoin-miners-power-down-en-masse-as-losses-hit-records\/","title":{"rendered":"Bitcoin miners power down en masse as losses hit records"},"content":{"rendered":"<p>A closely watched gauge of digital-gold mining profitability has sunk to a record low. Large mining firms are unplugging machines amid a <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-tests-60000-support-triggering-billion%e2%80%91dollar-liquidations\">price slump<\/a> in the first cryptocurrency and rising electricity tariffs.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">A closely watched measure of Bitcoin mining revenue has dropped to the lowest on record with more of the large-scale computing outfits that make the cryptocurrency work unplugging equipment while prices tumble and energy costs climb <a href=\"https:\/\/t.co\/RumS7SR9JH\">https:\/\/t.co\/RumS7SR9JH<\/a><\/p>\n<p>\u2014 Bloomberg (@business) <a href=\"https:\/\/twitter.com\/business\/status\/2019473363010306502?ref_src=twsrc%5Etfw\">February 5, 2026<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Revenue per unit of compute has fallen to 3 cents per terahash. For comparison, in 2017 it stood at $3.5.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"422\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-3f7ee512960ae660-5583889491476500-1024x422.png\" alt=\"\u0421\u043d\u0438\u043c\u043e\u043a \u044d\u043a\u0440\u0430\u043d\u0430 2026-02-06 110847\" class=\"wp-image-274756\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-3f7ee512960ae660-5583889491476500-1024x422.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-3f7ee512960ae660-5583889491476500-300x124.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-3f7ee512960ae660-5583889491476500-768x317.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-3f7ee512960ae660-5583889491476500.png 1497w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">\u0418\u0441\u0442\u043e\u0447\u043d\u0438\u043a: <a href=\"https:\/\/data.hashrateindex.com\/network-data\/bitcoin-hashprice-index\">Hashrate Index<\/a>.<\/figcaption><\/figure>\n<p><a href=\"https:\/\/forklog.com\/en\/news\/what-are-hashrate-and-mining-difficulty-in-cryptocurrencies\">Mining difficulty<\/a> stands at 141.66 T.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"457\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-f198e0ff0cec575a-5583913858581561-1024x457.png\" alt=\"\u0421\u043d\u0438\u043c\u043e\u043a \u044d\u043a\u0440\u0430\u043d\u0430 2026-02-06 112458\" class=\"wp-image-274757\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-f198e0ff0cec575a-5583913858581561-1024x457.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-f198e0ff0cec575a-5583913858581561-300x134.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-f198e0ff0cec575a-5583913858581561-768x343.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-f198e0ff0cec575a-5583913858581561.png 1492w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">\u0418\u0441\u0442\u043e\u0447\u043d\u0438\u043a: <a href=\"https:\/\/explorer.cloverpool.com\/ru\/btc\/insights-difficulty\">CloverPool<\/a>.<\/figcaption><\/figure>\n<p>According to Glassnode, hashrate (<span data-descr=\"seven-day moving average\" class=\"old_tooltip\">7DMA<\/span>) is above 1 ZH\/s.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-f05afd067ea1640b-5583951855716634-1024x576.png\" alt=\"glassnode-studio_btc-mean-hash-rate-7d-moving-average\" class=\"wp-image-274758\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-f05afd067ea1640b-5583951855716634-1024x576.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-f05afd067ea1640b-5583951855716634-300x169.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-f05afd067ea1640b-5583951855716634-768x432.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-f05afd067ea1640b-5583951855716634-1536x864.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/img-f05afd067ea1640b-5583951855716634-2048x1152.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">\u0418\u0441\u0442\u043e\u0447\u043d\u0438\u043a: <a href=\"https:\/\/studio.glassnode.com\/charts\/mining.HashRateMean?a=BTC&#038;category=&#038;ema=0&#038;mAvg=7&#038;mMedian=0&#038;s=1723468067&#038;u=1763683200&#038;zoom=\">Glassnode<\/a>.<\/figcaption><\/figure>\n<p>Newhedge analysts forecast a drop in mining difficulty of more than 13% at the next adjustment. That would be the biggest fall since China\u2019s ban on the crypto industry in 2021.<\/p>\n<p>The rout hit listed miners. On February 5, CleanSpark fell 10%, MARA 11%, TeraWulf 8.5% and Riot 4.8%.<\/p>\n<p>CleanSpark executive Harry Sudok called the downturn historic and highlighted two causes:<\/p>\n<ol class=\"wp-block-list\">\n<li>Bitcoin\u2019s price plunge.<\/li>\n<li>Winter storms in the United States.<\/li>\n<\/ol>\n<p>In late January, bad weather in Texas and Tennessee sent electricity prices spiking. Miners shut down rigs because operations became unprofitable or under grid-balancing programmes.<\/p>\n<p>To diversify revenue, CleanSpark and TeraWulf have begun refitting data centres for AI. Even so, bitcoin mining still provides most of their takings.<\/p>\n<h2 class=\"wp-block-heading\">Whale moves<\/h2>\n<p>According to <a href=\"https:\/\/intel.arkm.com\/explorer\/entity\/mara-pool\">Arkham<\/a>, MARA moved 1,317 BTC (~$87.4 million) to external wallets and exchanges.<\/p>\n<p>The largest tranche, 653.7 BTC ($43.4 million), went to an address linked to digital-asset manager Two Prime. It later sent another 9 BTC there.<\/p>\n<p>Roughly 300 BTC went to custodian BitGo, with the remaining 355 BTC dispersed to unidentified wallets.<\/p>\n<h2 class=\"wp-block-heading\">IREN<\/h2>\n<p>Shares in the largest public miner, IREN, fell 11.5% in the main session and lost a further 13% after-hours.<\/p>\n<p>Key figures from the quarterly <a href=\"https:\/\/www.globenewswire.com\/news-release\/2026\/02\/05\/3233417\/0\/en\/IREN-Reports-Q2-FY26-Results.html\">report<\/a>:<\/p>\n<ol class=\"wp-block-list\">\n<li><strong>Revenue:<\/strong> down to $184.7 million (forecast \u2014 $224 million).<\/li>\n<li><strong>Net loss: <\/strong>$155.4 million (profit of $384.6 million in the previous quarter).<\/li>\n<\/ol>\n<p>The loss mainly reflects a $219 million revaluation of financial instruments and $31.8 million of equipment impairment, tied to the planned shift of British Columbia data centres from mining to AI compute.<\/p>\n<p>Co-founder Daniel Roberts noted strong demand for data-centre services. The company is reallocating capacity toward more lucrative AI workloads.<\/p>\n<h2 class=\"wp-block-heading\">CleanSpark<\/h2>\n<p>CleanSpark\u2019s shares fell nearly 20% during trading and slid another 10% after the close.<\/p>\n<p>Financial <a href=\"https:\/\/www.prnewswire.com\/news-releases\/cleanspark-delivers-181-million-in-q1-revenue-strengthens-balance-sheet-and-advances-multi-gigawatt-ai-infrastructure-platform-302680687.html\">results<\/a>:<\/p>\n<ol class=\"wp-block-list\">\n<li><strong>Revenue:<\/strong> $181.2 million, $13 million below consensus.<\/li>\n<li><strong>Net loss:<\/strong> $378.7 million (a profit of $246.8 million a year earlier).<\/li>\n<\/ol>\n<p>Working capital as of December 31, 2025 was $1.3 billion.<\/p>\n<p>President Gary Vekkiarelli said the business model is being transformed. The company now diversifies income: mining generates current cash flow, while AI infrastructure is aimed at the long term.<\/p>\n<p>In November 2025, Bitfarms announced a gradual <a href=\"https:\/\/forklog.com\/en\/news\/bitfarms-reports-46-million-loss-and-shift-from-mining-to-ai\">exit from the industry<\/a> and a pivot to AI infrastructure.<\/p>\n<p>In January this year, Bit Digital <a href=\"https:\/\/forklog.com\/en\/news\/bit-digital-shifts-focus-from-bitcoin-mining-to-ai-and-ethereum\">flagged<\/a> similar plans. The company intends to cease mining entirely to focus on AI strategies and investments in Ethereum.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hashprice fell to a record low as miners unplug rigs amid bitcoin\u2019s price slump and higher power costs.<\/p>\n","protected":false},"author":1,"featured_media":94004,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"Hashprice hits record low; miners unplug rigs amid bitcoin slump and higher power costs.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1137],"class_list":["post-94003","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-cryptocurrency-mining"],"aioseo_notices":[],"amp_enabled":true,"views":"311","promo_type":"1","layout_type":"1","short_excerpt":"Hashprice hits record low; miners unplug rigs amid bitcoin slump and higher power costs.","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/94003","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=94003"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/94003\/revisions"}],"predecessor-version":[{"id":94005,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/94003\/revisions\/94005"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/94004"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=94003"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=94003"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=94003"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}