Even though there is a lot of negative animosity toward the Bitcoin forks, some of their milestones are worth keeping an eye on. Bitcoin Cash successfully went through its own block reward halving, albeit it seems miners are bailing in quick succession.
Bitcoin Cash is one of the many forked versions of Bitcoin that exist today.
Bitcoin Cash Mining Profitability Collapses
Similar to Bitcoin, BCH’s network will also have its own block reward halvings.
One such halving took place earlier in the week, and seemingly went off without a hitch.
A promising turn of events, yet it remains to be seen how the network will evolve moving forward.
Statistics by Coin Dance show that things are not looking all that great.
While over 65 blocks have been mined since the halving, the overall hashrate is very low.
Additionally, mining BCH at the current price following the block reward halving is anything but profitable.
Anyone exploring this particular option right now is bleeding money.
In fact, it is nearly 45% more profitable to mine Bitcoin compared to BCH, at the time of writing.
How those statistics will look after Bitcoin’s block reward halving, remains to be seen.
Bitcoin SV, another fork, is set to go through its own halving in less than 24 hours.