Bitcoin's ongoing price slide deepened on February 5, 2026, as the cryptocurrency tumbled more than 12% to close around $64,000, marking its lowest level in over a year and entering what analysts are calling a renewed "crypto winter. "The sharp decline has intensified pressure on Bitcoin miners, with the average production cost to mine a single Bitcoin now estimated between $87,000 and $96,000, according to sources like Checkonchain and MacroMicro data tracking global electricity usage and network metrics. This gap means many mining operations-particularly those reliant on higher energy prices or less efficient hardware-are operating at significant losses, prompting some to shut down equipment and contributing to a drop in network hashrate. Publicly traded mining companies have seen their shares plummet, with firms like Riot Platforms, MARA Holdings, and others falling 10-20% in recent trading sessions amid broader market liquidations exceeding $2 billion in the past day. While efficient miners with access to low-cost renewable energy (some reporting costs as low as $39,000-$60,000 per BTC) may weather the storm, the industry faces mounting challenges from rising electricity competition and a forthcoming network difficulty adjustment expected around February 7-8, potentially dropping by 3-14% to ease some burdens. The sell-off reflects growing doubts in the crypto sector, with experts warning that failure to hold key support levels could push Bitcoin toward the $60,000 range or lower in the near term.