Nasdaq Warns Bitcoin Hardware Maker Canaan About Delisting
Canaan, a Singapore-based Bitcoin mining hardware maker traded under the ticker CAN, has been warned by Nasdaq that it risks delisting unless its share price rises above $1 for at least 10 consecutive days by July. As of now, Canaan’s stock trades at $0.79 and has not exceeded $5 since 2022. To avoid delisting, companies often implement a reverse stock split, consolidating shares to boost their price. In October, Canaan received its largest order in three years—50,000 Avalon A15 Pro mining rigs—which briefly boosted its stock by 25%, but this effect was short-lived. Additionally, Streeterville Capital, previously Canaan’s largest institutional shareholder, fully exited its position in December, divesting $439 million. Similar Nasdaq warnings have been issued to other firms, such as Kindly MD, which has until June 2026 to meet compliance.
