Canaan Inc., a prominent manufacturer of Bitcoin mining hardware, has received a formal warning from the Nasdaq stock exchange for failing to meet its minimum listing requirements. The notification, received on Wednesday and disclosed on Friday, states that Canaan's American Depositary Shares (ADSs) have closed below the $1.00 minimum bid price for 30 consecutive business days, putting the company at risk of delisting.
The company now has 180 days, until July 13, 2026, to regain compliance. To do so, Canaan's share price must close at or above $1.00 for a minimum of 10 consecutive trading days. As of Friday, shares closed at $0.79, down 3.8% for the day and approximately 63% lower over the past 12 months. The stock last closed above $1 on November 28.
This marks the second time in less than a year that Canaan has faced such a warning. The company successfully resolved a similar non-compliance issue in 2025. If Canaan fails to meet the July deadline, Nasdaq staff could initiate delisting procedures, which would typically move the stock to over-the-counter markets, making it harder to trade and often leading to further price declines.
Canaan stated it intends to monitor its share price and "take all reasonable measures" to regain compliance. Potential actions include applying for an additional 180-day extension or effecting a reverse stock split to mechanically increase the per-share price. The company highlighted that its shares will continue to trade on the Nasdaq Global Market during the 180-day compliance period.
The warning underscores the prolonged slump in Canaan's stock, which hasn't traded above $3 since December 2024. The challenging environment for Bitcoin miners, following the latest halving event which reduced block rewards and pressured margins, has contributed to the pressure. However, the company has seen temporary boosts from business developments, such as a 25% stock surge in October 2025 after announcing its largest order in over three years for its Avalon A15 Pro mining rigs.
Canaan's situation reflects a broader trend of compliance pressure on crypto-linked firms. In December 2025, Bitcoin treasury company Kindly MD received a similar Nasdaq notice. The news highlights the ongoing financial strain within the public cryptocurrency mining and adjacent sectors.
