Share this article
Bitcoin SV's First Halving Crimps Profits for BSV Miners
Bitcoin SV, the network that split off from the Bitcoin Cash blockchain in late 2018, has cut its miners’ block reward in half for the first time.
By Wolfie Zhao
Updated Sep 14, 2021, 8:27 a.m. Published Apr 10, 2020, 1:08 a.m.
Bitcoin SV, the network that split off from the Bitcoin Cash blockchain in late 2018, has cut its miners’ block reward in half for the first time.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Miners on the network produced the 630,000th block around 00:50 UTC time on Friday, which, by design, triggered the halving event that reduced mining rewards from 12.5 BSV to 6.25 per block.
BSV is now trading at $214 as of press time, for a market capitalization of $3.9 billion, making the network the market's sixth largest cryptocurrency. It's down 5.4 percent over the past 24 hours, according to CoinDesk's price index.
The halving means the daily output for newly mined BSV is now around 900 units, which, at BSV's current price, means the pie of block rewards miners can compete over totals about $200,000 a day.
The total computing power racing on Bitcoin SV has declined by some 25 percent since a recent high around four exahashes per second (EH/s) in early February, following BSV's price plunge from $370 to $110 within a month. The price had bounced back to over $200 over the past several weeks.
The halving event came just a day after the same milestone for Bitcoin Cash, which broke off the Bitcoin network following a heated community disagreement in 2017. Miners on the Bitcoin SV network may face the same profitability issue as those on Bitcoin Cash.
Following Bitcoin Cash's halving Wednesday, the hashing power on the network has dropped from around 3.5 EH/s to 2.5 EH/s. It took miners about 100 minutes to mine the first block after the Wednesday halving, while the average block production time is designed to be 10 minutes.
This week marked the first halvings for the Bitcoin Cash and Bitcoin SV networks since their births in 2017 and 2018, respectively.
Bitcoin , the world's largest cryptocurrency by market cap with currently 105 EH/s of computing power, is around 35 days away from its programmed halving, which will be the third in its history and one of the most anticipated events of 2020.
See also: Bitcoin's Halving, Explained
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
These Three Metrics Show Bitcoin Found Strong Support Near $80,000
Onchain data shows multiple cost basis metrics confirm heavy demand and investor conviction around the $80,000 price level.
What to know:
- Bitcoin rebounded from the $80,000 region after a sharp correction from its October all time high, with price holding above the average entry levels of key metrics.
- The convergence of the True Market Mean, U.S. ETF cost basis, and the 2024 yearly cost basis around the low $80,000 range highlights this zone as a major area of structural support.
Top Stories
