Canaan Inc. faces Nasdaq delisting risk after price drop

Canaan Inc. faces possible Nasdaq delisting after its shares stayed below $1 for 30 days. The company has until July 2026 to regain compliance, considering options like a reverse stock split.

Canaan Inc., a leading Bitcoin mining hardware manufacturer, has received a formal notice from Nasdaq after its share price stayed below $1 for 30 consecutive business days. This triggered a compliance review, and the company now has a 180-day grace period, ending July 13, 2026, to raise its closing bid price to at least $1 for 10 consecutive trading days. During this period, Canaan's shares will continue to trade on the Nasdaq Global Market. If the requirement is not met, Canaan may apply for an additional extension by submitting a transfer application and fee, provided it meets other listing standards. Failure to comply could result in delisting, though a reverse stock split is being considered as a potential remedy. Despite these compliance challenges, Canaan recently reported strong operational metrics, including significant increases in operating and installed hashrate. The company remains focused on its hardware business and is monitoring the situation closely to consider all available options for regaining compliance.