Post-Halving Recovery of BCH and BSV Mining Power
Following sharp declines in April after their respective halvings, Bitcoin Cash (BCH) and Bitcoin SV (BSV) have regained significant mining hashrate. Data from BitInfoCharts reveals:
- BCH: Increased from 1.43 EH/s (May 10) to 2.74 EH/s (May 13) — 90% growth.
- BSV: Rose from 1.1 EH/s to 1.78 EH/s over the same period.
Mining profitability for BTC, BCH, and BSV now aligns closely.
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Miner Exodus After April Halvings
Key Events:
- BCH: April 8 halving reduced block rewards from 12.5 to 6.25 BCH, triggering an 80% hashrate drop within days.
- BSV: April 10 halving saw similar declines as miners migrated to BTC.
Bitcoin’s hashrate peaked at 137 EH/s pre-May-11 halving but has since dropped 24% to 104 EH/s — less severe than BCH/BSV’s April crashes.
Why Miners Are Returning to BCH and BSV
Current Trends:
Profitability Parity:
- F2Pool reports BSV briefly outperformed BTC post-halving, with BCH trailing slightly.
Transaction fees remain stable:
- BSV: ~$0.0002
- BCH: ~$0.002
BTC Fee Spike Criticism:
- BSV’s Ed Pownall highlights BTC’s $100 fee for a 1.2 BTC transaction on May 11, arguing this reflects "artificial network strain."
Transaction Volume:
- BSV processed 88% of BTC’s daily transactions on May 13, though critics attribute this to data recording.
FAQs
Q: How does halving affect miner revenue?
A: Block rewards halve, squeezing profits unless coin prices rise to compensate.
Q: Why did BTC’s hashrate drop less than BCH/BSV?
A: BTC’s larger network and higher liquidity buffer against abrupt miner exits.
Q: Are BCH/BSV transactions cheaper than BTC?
A: Yes — fees are 100–1,000x lower, but scalability trade-offs exist.
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Conclusion
While initial post-halving drops rattled BCH and BSV networks, renewed miner activity signals resilience. BTC’s fee volatility underscores ongoing debates about scalability and user adoption across all three chains.