Joel Block served as Chief Financial Officer of USBTC from September 27, 2021 until November 30, 2023, when USBTC merged with Legacy Hut Mining Corp. to form Hut 8 Corp. His initial employment agreement with USBTC provided for an annual base salary of $200,000, which increased to $298,077–$300,000 by fiscal 2023. Block also received equity compensation through USBTC replacement options granted under the merger terms.
Block's employment as a non-executive employee of Hut 8 terminated effective January 31, 2024. Under his severance agreement, he received 12 months of base salary payable over six months following termination, continuation of COBRA health benefits, and the right to exercise vested USBTC replacement options until January 31, 2025. His employment was subject to non-competition, non-solicitation, and confidentiality agreements. As of his termination date, Block held 21,155 shares of Hut 8 common stock through Bubs, LLC and options to purchase 319,008 shares.
Biography extracted from Hut 8 DEF 14A filed 2024-04-26 View cached copy (2026-08-31)Live source ↗
Compensation
| Year | Role as filed | Salary | Option awards | Total | Source |
|---|---|---|---|---|---|
| 2023 | Former Chief Financial Officer | $300.0K | $182.9K | $482.9K | View cached copy (2026-08-31)Live source ↗ |
| 2022 | Former Chief Financial Officer | $145.4K | $587.7K | $733.1K | View cached copy (2026-08-31)Live source ↗ |
As reported in the company's DEF 14A Summary Compensation Table (SEC Reg S-K Item 402(c)). Stock and option awards are grant-date fair values — what the award was worth on the day it was granted, not cash received and not what it is worth now. Every row here reconciles: its columns add up to the total the filing printed.