💯 this is how I see it:

This is exactly why you can't beat #BTC or ETH or transparent blockchains on a long term. Most small, mid & even large cap companies have 100% control over how they want to serve the shareholders vs. just enrich themselves. Even $IREN despite being on the lower end of executive comp, is still pretty high. This includes the recent 3M additional shares for comp for 100 employees. 

That said, no one can match $RIOT. And that's why it's my least favorite large cap miner along with $MARA. But the current valuation of $RIOT is fair. So relatively speaking, it has room to catch up to $MARA. (Of course there is no comparison between $RIOT and $CLSK)
#BTC #IREN