diff --git a/lib/email/styles.rb b/lib/email/styles.rb
index ba2b56fcaf6..cd561eb8b58 100644
--- a/lib/email/styles.rb
+++ b/lib/email/styles.rb
@@ -326,11 +326,10 @@ module Email
 
     def decorate_hashtags
       @fragment.search(".hashtag-cooked").each do |hashtag|
-        hashtag_text = hashtag.search("span").first
-        hashtag_text.add_next_sibling(<<~HTML)
+        hashtag.children.each(&:remove)
+        hashtag.add_child(<<~HTML)
           <span>##{hashtag["data-slug"]}</span>
         HTML
-        hashtag_text.remove
       end
     end
 
diff --git a/spec/lib/email/styles_spec.rb b/spec/lib/email/styles_spec.rb
index 4a6f18bf0ef..62d31c4b479 100644
--- a/spec/lib/email/styles_spec.rb
+++ b/spec/lib/email/styles_spec.rb
@@ -104,6 +104,15 @@ RSpec.describe Email::Styles do
       expect(frag.at('a')).to be_present
       expect(frag.at('a')['href']).to eq(original_url)
     end
+
+    it "replaces hashtag-cooked text with raw #hashtag" do
+      hashtag_html = "<a class=\"hashtag-cooked\" href=\"#{Discourse.base_url}/c/123/dev\" data-type=\"category\" data-slug=\"dev\"><svg class=\"fa d-icon d-icon-folder svg-icon svg-node\"><use href=\"#folder\"></use></svg><span>Dev Zone</span></a>"
+      frag = html_fragment(hashtag_html)
+      expect(frag.at("a").text.chomp).to eq("#dev")
+      hashtag_html = "<a class=\"hashtag-cooked\" href=\"#{Discourse.base_url}/c/123/dev\" data-type=\"category\" data-slug=\"dev\"><svg class=\"fa d-icon d-icon-folder svg-icon svg-node\">Dev Zone</a>"
+      frag = html_fragment(hashtag_html)
+      expect(frag.at("a").text.chomp).to eq("#dev")
+    end
   end
 
   describe "rewriting protocol relative URLs to the forum" do