Given this situation

In case rope geometric center is at the Earth com, then elementary Hooke force change due to rope length contraction is :
$$ dF_H = k~2\pi~ dr $$
And elementary gravity force change due to change in elementary radius is :
$$ dF_G = -2G\frac{Mm}{r^3} dr $$
Rope will start to fall down uniformly until Hooke restoring force will compensate gravity force, namely when :
$$ F_H = F_G $$
Expressing in integrals would be :
$$ \int^{R_2}_{R_1} k~2\pi~ dr = \int^{R_2}_{R_1} -2G\frac{Mm}{r^3} dr $$
Integrating gives :
$$ k~2\pi~ (R_2-R_1) = G~Mm \left(\frac {1}{{R_2}^2} - \frac{1}{{R_1}^2}\right) $$
Refactoring right side in alternate form gives :
$$ k~2\pi~ (R_2-R_1) = G~Mm \frac {-(R_2 - R_1) (R_1 + R_2)}{{(R_1 R_2)}^2} $$
Simplifying, and expressing left side in terms of radiuses, gives :
$$ \frac {(R_1 + R_2)}{{(R_1 R_2)}^2} = - \frac{k~2\pi}{G~Mm} $$
Inverting both sides of equation and multiplying by $1/{R_2}^2$ gives :
$$ \frac{{R_1}^2}{R_1 + R_2} = -\frac{G~Mm}{{R_2}^2} \frac{1}{k~2\pi} $$
Noticing in the right side of equation there's a gravity force $F_G$ and multiplying both sides by $1/R_1$ gives :
$$ \frac{R_1}{R_1 + R_2} = -\frac{F_G}{k~2 \pi R_1} $$
It's not hard to spot that in the right side denominator there is a circumference of final contracted rope state, so :
$$ \frac{R_1}{R_1 + R_2} = \frac{F_G}{-k~ l^{~\prime}} $$
Right side denominator is Hooke restoring force, which we get compressing final rope state at equilibrium into singularity, namely $F_{l^{~\prime} \to 0} = -k~ l^{~\prime}$, so we can re-write equation as :
$$ \frac{R_1}{R_1 + R_2} = \frac{F_G}{F_{l^{~\prime} \to 0}} $$
Assuming $R_1 \ll R_2$, and inverting ratios, we get :
$$ \boxed {\frac{R_2}{R_1} = \frac{F_{l^{~\prime} \to 0}}{F_G} }$$
This is a very beautiful relation, I didn't expected that. In addition to that $R_1$ could be called as
Hooke radius, for noticing some analogies to Schwarzschild radius and black-holes (singularity participates here !). So this problem is a nice classic example on the road to relativity.