The Bitcoin mining industry‘s executive compensation has exploded to stratospheric levels, leaving shareholders fuming and governance experts scratching their heads.
Average executive pay at leading miners more than doubled from $6.6 million in 2023 to a jaw-dropping $14.4 million in 2024.
That’s not a typo.
Actually happened.
While miners rake in the cash, shareholders are revolting.
While miners stuff their pockets with millions, shareholders are finally standing up and saying enough is enough.
Support for executive pay proposals averaged just 64% in 2025 – pathetic compared to the 90%+ approval typical in corporate America.
Some votes were downright embarrassing.
Marathon’s pay plan received a measly 22% approval.
Riot?
Only 32%.
Core Scientific?
A dismal 38%.
Most firms failed to reach the critical 70% support threshold for their compensation packages.
Seems like investors are finally fed up.
With ASIC machines dominating mining operations, companies are spending fortunes on specialized hardware while paying executives astronomical sums.
The numbers are staggering.
Median compensation for Bitcoin mining executives sits at $10.8 million – a whopping 390% higher than their IT sector counterparts who manage with just $2.2 million.
Base salaries remained relatively modest at $474,000, but who needs salary when equity awards are throwing money at you like confetti?
Speaking of equity, that’s where the real cash is hiding.
Equity and long-term incentives now make up 89% of total compensation packages, far exceeding the 63% average in both the Russell 3000 and energy sector.
Translation: dilution city for existing shareholders.
The industry’s reliance on aggressive equity issuance has become a key concern for investors focused on long-term value preservation.
Some individual awards defy belief.
Riot Platforms’ CEO scored a $79.3 million stock award for 2024.
Marathon handed out $40.1 million.
Core Scientific – fresh from bankruptcy, mind you – gave its CEO $39.5 million in stock.
Must be nice.
The disconnect between these astronomical pay packages and broader industry norms has turned Bitcoin miners into corporate compensation outliers.
While executive pay rose about 10% across S&P 500 companies, Bitcoin miners are in another universe entirely.
Nearly 99% of executive pay proposals pass elsewhere in corporate America.
Not in crypto mining.
Shareholders have had enough.
And honestly, who can blame them?