The Bitcoin Cash network has undergone a halving event, whereby its block reward decreased by 50% from 12.5 BCH 6.25 BCH per block. The event occurred at a block height of 630,000 on Wednesday at approximately 12:20 UTC. Bitcoin Cash hardforked from Bitcoin in 2017 and, despite inheriting the same monetary policy, has experienced its halving several weeks before Bitcoin. In recent weeks, Bitcoin Cash’s hash rate has fallen from 5 EH/S in the middle of February to 3.3 EH/S at the same time as the BCH token has experienced price declines of similar magnitudes. The event is expected to lead to many Bitcoin Cash miners to no longer profit from mining the token, leading to further reductions in hash power and network difficulty adjustments until an equilibrium is reached.