What is your opinion on this?
First: You may be at odds with what your employees are doing. Whenever I catch the CTO/co-founder doing something I'm able to do, I'll gently push/nudge him off of it and do it or take a mental note to learn to do it. I try to get as much off of his plate as I can (bug fixes, features, staying on the lookout for tooling, best practices, thinking about new uses for our products, refactoring and profiling/documenting/testing the code, trying other ways to do things, polishing ux/ui, tweaking the servers, helping with hiring and marketing, learning new tings, thinking about strategy and how to implement it, mentoring junior members, prototyping and proposing things) do so he could do the things he's really good at and squeeze the most value out of his work day.
Second: Is your growth really driven by the number of lines of code and what's the impact on growth of the code you write and is it the best use of your time? My point is that if you're coding, I think it's good to ask if you're spending time on code other members can't really write, and then eventually think about hiring someone who can write it better than you so you could do all the other stuff a CEO does.
It is hard to put the 3 hours of coding into perspective when you don't indicate how much effort is being put into design and specification of the system. In my experience successfully deployed systems are bout 25% coding, the rest of the effort is in gathering and documenting requirements, designing the system from various perspectives and specifying the modules, etc. Of course, in many cases people conflate all those activities as being "coding".
Yes, I am conflating all of that into coding.
We are an early stage startup, so I still feel I need to be everywhere even if it doesn't make too much sense. Going to hire more in the coming months to try to lower my own work load. But, I suspect it will be just keep increasing. ;)