$BTC for public Bitcoin mining companies after granting standard stock

Shareholders have reduced their support for executive pay packages in leading U.S. Bitcoin mining companies ($BTC ) to an average of 64% in this year's proxy season, significantly lower than the approval benchmark of over 90% across the S&P 500 index, according to a research note from VanEck on July 10.

VanEck reviewed filings from eight listed mining companies and found that the average compensation for the named executive officer (NEO) rose from $6.6 million in 2023 to $14.4 million in the 2024 proxy draft.

Equity and other long-term instruments accounted for 79% of total compensation in 2023 and 89% in 2024, far exceeding the 63% ratio in the Russell 3000 and the energy sector weight of 63%.

Base salaries remained close to industry standards at around $474,000, but stock grants increased significantly.

The CEO of Riot Platforms received a stock bonus worth $79.3 million for 2024, nearly doubling Marathon's grant of $40.1 million, #BTCBreaksATH #ShariaEarn $ETH #FOMCWatch #SECETFApproval #BinanceTurns8