Bitcoin Miner Canaan Faces Nasdaq Delisting as Stock Stalls at $0.80
Hardware giant Canaan Inc. has until July 2026 to reclaim the $1.00 share price threshold or face expulsion from the Nasdaq Global Market.
Canaan Inc. (NASDAQ: CAN) confirmed on Friday it received a deficiency notice from the Nasdaq Stock Market, citing a failure to maintain a minimum bid price of $1.00. The Singapore-based mining hardware manufacturer now faces a six-month deadline to stabilize its valuation or risk losing its listing on the global exchange.
Shares of CAN struggled to hold $0.80 during pre-market trading, reflecting a 58% decline over the last 12 months.
The Compliance Clock Ticks
The notification, issued January 14, triggered a 180-day compliance window ending July 13, 2026. Under Nasdaq Listing Rule 5550(a)(2), Canaan must close at or above $1.00 for 10 consecutive business days to clear the deficiency. Failure to meet this threshold could force the stock to over-the-counter (OTC) markets, drastically reducing liquidity for institutional investors.
Management acknowledged the breach in a filing but emphasized operations remain unaffected:
The Nasdaq notification letter has no immediate effect on the listing or trading of the Company’s securities… The Company intends to take all reasonable measures in order to regain compliance.
Operational Disconnect
The stock’s performance starkly contrasts with Canaan’s recent operational data. In a separate update, the firm reported an 82% year-over-year increase in installed hashrate, reaching 9.91 EH/s. Despite expanding its Bitcoin treasury to 1,750 BTC, the market continues to discount hardware manufacturers facing margin compression and post-halving profitability concerns.
If the stock remains sub-$1.00 by July, Canaan may apply for a second 180-day extension, provided it meets all other listing standards and signals intent to cure the deficiency, likely through a reverse stock split.
