Investors are balking at ‘excessive’ Bitcoin miner exec pay: VanEck
Bitcoin mining executives’ huge pay packages are weakly aligned with shareholder interests, according to new research from VanEck.
US Bitcoin mining executives are earning well above their peers in the IT and energy sectors due to generous stock compensation packages, and shareholders are fighting back, according to new findings from asset manager VanEck.
Despite “aggressive compensation packages,” Bitcoin mining firm shareholders are “balking,” VanEck head of digital assets research Matthew Sigel and investment analyst Nathan Frankovitz reported on Thursday.
The researchers found that average shareholder approval for executive pay packages is just 64% compared to around 90% for S&P 500 and Russell 3000 companies.