If its dissolving then it's definitely importing nutrients (and if it's caulerpa, it might be introducing toxics). Algaes will grow until nutrients become limiting to growth and then it will crash. Harvesting more algae more frequently will help to keep this from happening again. Also, make sure you have good water flow through the algae bed.
(you shouldn't have to worry about phosphates being released back into the water since macro algaes don't incorporate them... just kidding, inside joke
, sorry. You will likely see an increase in phosphates and/or nuisance algaes)