VanEck: Investors Express Dissatisfaction with "Excessive" Executive Compensation at Bitcoin Mining Firms
According to the latest research from asset management firm VanEck, executive compensation in the U.S. Bitcoin mining industry is significantly higher than that of peers in the information technology and energy sectors, mainly due to generous stock incentive plans—an issue that shareholders are now protesting. Despite these “aggressive compensation plans,” shareholders of Bitcoin mining companies remain “dissatisfied,” VanEck’s Head of Digital Asset Research Matthew Sigel and investment analyst Nathaniel Frankovitz noted in a report on Thursday. The researchers found that the average approval rate for executive compensation proposals among shareholders was only 64%, compared to about 90% for companies in the S&P 500 and Russell 3000 indices. “This skepticism appears well-founded. Mining executives continue to grant themselves excessive equity awards, which dilute shareholder value and fail to reliably align compensation with long-term value creation,” they added.
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