Bitcoin Miners: Brrrr-oke or Just Chilling?

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Oh, the drama! Bitcoin miners are having a February to forget, darling. Revenue? Slipping faster than Bridget Jones’s knickers at a Mark Darcy party. And that’s not even the worst of it-the U.S. winter storm has turned their hashrate into a sad, shivering puppy. October’s lofty levels? Gone. Vanished. Like my willpower around a box of chocolates.

Bitcoin Miners: Red Flags and Frostbite Alerts

So, the winter storm-yes, the one that’s been wreaking havoc across multiple U.S. states-has forced several mining operations to power down. Because, you know, saving the grid is so much more important than their precious bitcoins. As of this weekend, the hashrate is lounging at a measly 850 exahash per second (EH/s). Last time it was this low? June 2025. Ancient history, basically.

And let’s not forget the hashprice-currently at a cringe-worthy $35.22. That’s practically pocket change compared to July’s peak of $64.03. April 2025 levels? We’re practically living in the Stone Age again. It’s like the universe is saying, “Not today, miners. Not today.”

Bitcoin’s hashprice on Feb. 1, 2026. Spoiler: It’s not pretty.

Publicly traded miners? Oh, they’re having a ball-a ball of misery. Applied Digital (APLD) took an 11% nosedive, IREN Limited (IREN) followed with a 10.19% plunge, and Cipher Mining (CIFR) slid 9.83%. It’s like a tragic game of musical chairs, and no one’s winning.

What’s the silver lining? Well, there’s always hope. Bitcoin could bounce back (fingers crossed), or the next difficulty epoch might give them a breather. But for now, it’s all about survival-efficiency, balance sheets, and waiting for the storm to pass. Both the icy one and the market-driven one. Brrrr.

FAQ ⛏️

  • Why are Bitcoin miners feeling the pinch?
    Because the universe is conspiring against them-prices are down, hashprice is in the gutter, and winter storms are being extra.
  • What’s hashprice and why should I care?
    It’s how much miners make per unit of computing power. Right now, it’s as exciting as a Monday morning meeting.
  • How far is Bitcoin from its glory days?
    About 37% below its October high. So, pretty far. Like, “I’ll just stay in and watch Netflix” far.
  • Any hope on the horizon?
    Maybe. If Bitcoin prices rebound or mining difficulty drops, miners might stop crying into their coffee. But don’t hold your breath.

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2026-02-01 22:27