Bitcoin Cash hash rate drops following block reward halving

New data indicates that Bitcoin Cash's hashrate has fallen since the network's per-block reward subsidy halving this week.

As The Block previously reported, the halving was Bitcoin Cash's first since the breakaway cryptocurrency's formation in 2017. The event took place at 10:19 am UTC on Wednesday, leading to a reduction in the number of coins produced with each block from 12.5 BCH to 6.25 BCH.

BCH's halving comes more than a month before bitcoin is expected to undergo its own block subsidy halving.


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Data from Coin.Dance, which tracks hashrates for Bitcoin, Bitcoin Cash and Bitcoin SV, shows that BCH's hashrate fell below its typical variance on April 8. After hovering above 4,000 PH/s, it ended the day around 1,900 PH/s. Since the beginning of April 9, that figure has dropped to as low as 421 PH/s. The most recent Coin.Dance data indicates a hashrate of 498 PH/s.

Source: Coin.Dance

Bitcoin Cash miners made $13.34 million in March in revenue from block subsidies and less than $4,200 from fees. Because of the halving drop, that subsidy-related income is effectively cut in half.