BCH and BSV, two cryptocurrencies, faced a halving not too long ago. Diego Gutierrez Zaldivar from IOVlabs explained:
These networks share the hashing algorithm with Bitcoin, so hashing power continuously migrates among them. When the Bitcoin halving takes place, there is no alternative network to exist, so there is more likely to see miners whose operating costs are higher than BTC price itself
According to data provided by CoinMetrics, Bitcoin’s seven-day average hashrate hit a new ATH of 156.51 exahashes per second (EH / s).
The largest crypto network in the world has had a hashrate increase of more than 40% since February of last year, when its total mining capacity was 110 EH / s.