CleanSpark (CLSK) shares lost 19.13% during the main trading session and fell another 8.6% to $7.55 after the close.
On Friday, February 6, the price corrected slightly in premarket trading, to $8.06.
According to the company's October-December earnings report, CleanSpark's revenue was $181.20 million. This figure was 2.9% below analysts' estimates. The net loss reached $378.7 million, compared to a profit of $246.8 million in the same months of 2024.
CleanSpark stated that it no longer wants to focus on cryptocurrency mining. In its search for new sources of income, it is counting on artificial intelligence, which will help monetize its assets in the long term.
Shares of mining company IREN fell 11.46% in the main trading session and then fell another 18.5% after the close, falling to $32.42. For the final quarter of 2025, the company's revenue was $184.69 million, 16.49% below forecasts. Its net loss reached $155.4 million, compared to a profit of $384.6 million for the same period in 2024. IREN also announced its intention to transition from mining to AI.
The sharp decline also affected other major mining companies: RIOT Platforms (RIOT) shares fell 14.71%, while MARA Holding (MARA) shares fell 18.72%.
The drop in revenue and profit is due to a sharp decline 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 experts. This current situation is due to two factors: the falling price of Bitcoin and the sharp rise in electricity bills. Many large mining companies are forced to shut down their equipment, as its operation is becoming economically unviable. The hash rate index, which reflects miners' income for each unit of computing power, has fallen to 3 cents per terahash. For comparison, in 2017, this figure was $3.5, Luxor Technology experts noted.
Over the past 24 hours, the Bitcoin price has fallen by almost 10%, briefly dipping to $60,000 on Friday, February 6. The overall cryptocurrency market capitalization has fallen by almost 9%, according to CoinMarketCap. Over the past month, the Bitcoin price has fallen by 30%, leading to a sharp decline in market sentiment. The crypto investor fear and greed index has dropped to 9 out of 100, the lowest level since the collapse of the Terra project in May-June 2022.