Miners Dance on Bitcoin’s Grave: A Tale of Greed and Folly

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Ah, the fickle embrace of fortune! Bitcoin, that digital chimera, stumbled to $72,863 on Bitstamp, yet the miners, those modern-day alchemists, clung to their illusions of prosperity. Even as the red specter of loss haunted the U.S. stock indexes, these publicly traded harlequins managed a grotesque ballet of mixed-to-positive performances. A farce, you say? Nay, it is the very essence of human absurdity.

Bitcoin Miners: Clowns in a Geopolitical Circus

The digital coin’s plunge, you see, was no mere accident but a reaction to the world’s madness. Reuters, that harbinger of doom, reported the U.S. shooting down an Iranian drone-a triviality, one might think, yet enough to send global markets into a tailspin. Strategy (MSTR) and Coinbase (COIN), those poor fools, weakened in the face of such folly, while Bitcoin, ever the survivor, steadied near $76,000. A reprieve, perhaps, but for how long?

Among the miners, a motley crew of dreamers and schemers, IREN Limited rose 2.61% to $54.47, though its five-day decline of 8.97% tells a truer tale. Applied Digital, that ambitious upstart, climbed 5.37% to $36.67, trimming its weekly loss to a mere 3.67%. Cipher Mining, ever the optimist, added 2.81% to $16.25, yet remains down 8.16% over five days. A victory? Or merely a stay of execution?

Hut 8 Corp., that stalwart of the industry, advanced 5.01% to $59.00, outperforming its peers in a single day’s folly. But Terawulf, Inc., ah, Terawulf-the true protagonist of this tragicomedy! It jumped 10.08% on the day and rose 1.75% over five sessions. Why, you ask? Because it acquired 1.5 gigawatts of new capacity, turning old industrial graves into mining goldmines. A genius? Or merely a lucky fool?

Terawulf, that cunning fox, snapped up “strategically located” brownfield sites in Maryland and Kentucky. A masterstroke, or a desperate gamble? Only time will tell.

Not all miners shared in this absurd dance. Riot Platforms, that poor soul, edged up a mere 0.19% to $15.35, yet remains down 9.54% on the week. Core Scientific, Inc. slipped 0.72% to $17.74, while MARA Holdings, Inc. fell 0.76% to $9.05. A chorus of losers in this grand opera of greed.

Weekly pressures, those silent assassins, were evident elsewhere. Cleanspark, up 2.89% on the day, yet down 9.76% over five days. Bitdeer Technologies, sliding 1.74% on the day to $12.96, off 2.26% for the week. A split performance, you say? Nay, it is the very definition of chaos.

Investors, those fickle gods, are rotating within the mining sector, favoring balance-sheet strength and operational scale. Yet, the network’s hashprice, a mere $34.18 per petahash per second, whispers of darker days ahead. A stabilization? Or the calm before the storm?

FAQ ❓

  • Why did bitcoin dip on Feb. 3, 2026?
    Ah, the world’s folly! Geopolitical news heightened risk aversion, sending the coin into a spiral of despair.
  • Did all bitcoin miners rise on Tuesday?
    Nay, some clung to their losses like a lover to a lie.
  • Which miner performed best on both time frames?
    Terawulf, that cunning fox, was the only one to dance on both graves.
  • Where is bitcoin trading now?
    It holds around $76,000, a fleeting respite in a sea of uncertainty.

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2026-02-04 05:27