Want to stop the billionaires from getting all the bailout dollars, while the rest of us fall further behind? We’re in for a big adventure, so get ready! The Bitcoin mining industry is serving up a fresh round of injustice, and it’s more insidious than you’d think. We're talking about executive pay packages so bloated they'd make even Gordon Gekko blush.

Executive Greed: A Crypto Pandemic?

Let's be blunt: The numbers are obscene. We know that many of you are watching the crypto space very closely and waiting for a big moment to strike. At the same time, executives in Bitcoin mining firms are earning mind-boggling sums of money. I’m not referring to a small bonus for all that great work. I’m referring to a 115% hike in the average compensation — all playing a menacing role in the deck going from $6.6 million to an unfathomable $14.4 million! Does that sound fair to you? It doesn't to me.

Where is this money coming from? From you, the investors! From the very individuals who really are putting their own skin in the game in this volatile market.

Equity Overload: Diluting Your Future?

Here's where it gets even more infuriating. Yet in 2023 a record 79% of executive compensation is based on this equity. It gets even worse in draft 2024 proxies – all the way up to 89%! That’s right, these executives are being gifted enormous blocks of company stock – usually at the dilution of current shareholders. What’s that equity even worth when the market tanks?

Think about it: every share they get dilutes the value of your shares. It’s as if they’re creating new dollars for themselves, all the while sneakily cutting your share of the pie. It's legal, sure, but is it ethical? Is it right?

More alarmingly, it reminds me of the run up to the 2008 financial crisis. Remember those bank executives who got golden parachutes on the way out? In the meantime, the rest of us had to recover their mess. This feels eerily similar.

Failed Votes: A Wake-Up Call Ignored

The shareholders’ voice is growing louder—all eyes are on these companies now to see if they’re listening. The answer, resoundingly, is no. Look at the "say-on-pay" votes. Core Scientific, Riot, and Marathon were all unable to receive majority support for their executive pay packages. Let me repeat that. Failed. In reality, nearly six of eight Bitcoin mining companies were unable to clear the 70% support cutoff. The message is clear: Investors are fed up.

And what did these companies do? Or did they even at that point take a step back and say hey let’s reassess this. Did they finally exercise a little humility and listen to their shareholders’ concerns? Of course not! They continued printing up new shares for themselves at will, thus diluting the common investors.

Here's the really scary part. This type of heavy-handed behavior endangers the future of the entire crypto industry, particularly in developing areas of the world like Southeast Asia. Picture yourself as an aspiring entrepreneur from Vietnam, wanting to invest in crypto. And then you read about US-centric headlines about greedy executives making off with millions, or we’re fleecing regular US investors. And if you don’t like it, are you going to want to invest your hard-earned dollars in that? I doubt it.

Southeast Asia: A Warning Sign

This is more than about a handful of poorly-paid chief executives. This is not only about protecting the reputation of the entire industry. It's about trust, transparency, and fairness. At this moment in time, the Bitcoin mining industry is consistently shooting itself in the foot on all three fronts. We can't let this happen. We cannot allow some supervillains to spoil it for all the other billionaires.

We're not powerless. We can fight back. Here's what you can do:

What Can You Do?

This isn't just about money. It's about justice. It’s about supporting a fairer, more equitable world. It begins by holding these Bitcoin mining execs accountable for their greed. Let's send them a message they can't ignore: Enough is enough!

  • Demand Accountability: Contact the investor relations departments of these companies. Make your voice heard. Tell them you're not happy with the excessive executive pay.
  • Support Shareholder Activism: Join forces with other investors to push for reforms. There are groups dedicated to holding companies accountable for their actions.
  • Spread Awareness: Share this article with your friends, family, and colleagues. The more people who know about this, the better.
  • Advocate for Regulation: Support policies that promote greater transparency and fairness in executive compensation.

This isn't just about money. It's about justice. It's about creating a fairer, more equitable world. And it starts with holding these Bitcoin mining executives accountable for their greed. Let's send them a message they can't ignore: Enough is enough!

It's time to take back control.