Canaan receives Nasdaq delisting warning: stock price falls below $1, Bitcoin mining hardware manufacturer faces life-and-death test

On January 19, news broke that cryptocurrency mining hardware manufacturer Canaan Inc. recently received a delisting warning from NASDAQ. According to disclosed information, because Canaan’s stock closing price has been below $1 for 30 consecutive trading days and fails to meet the minimum share price requirement in the listing rules, regulators have demanded that it complete rectification within 180 days, or it risks being removed from the main stock index system.

Canaan stated that NASDAQ has granted it a grace period until July 13, 2026. During this period, the company’s stock price must remain at or above $1 for at least 10 consecutive trading days to regain compliance. Public data shows that the last time Canaan’s stock price was above $1 was on November 28, 2025.

As of last Friday’s close, Canaan’s stock price was $0.79, down 3.8% for the day, with a total decline of approximately 63% over the past 12 months. Since December 2024, its stock price has never risen back above $3. The market generally believes that as several mining companies shift resources toward artificial intelligence computing services, the demand for Bitcoin mining machines has slowed, exerting ongoing pressure on traditional mining hardware manufacturers.

The company revealed that if it fails to meet the standards within the deadline, it can still apply for an extension from NASDAQ and may take measures such as reverse stock splits to boost the share price. However, once it is determined that compliance cannot be restored, Canaan will face delisting risks, which typically weaken stock liquidity and further impact valuation.

Notably, Canaan announced in October last year that it completed a large order involving 50,000 Avalon A15 Pro miners, the largest transaction in over three years, which caused a significant rebound in its stock price at the time. However, based on current trends, this positive news has not reversed the medium- to long-term downward trend.

In the context of intensified competition in Bitcoin mining and cautious sentiment in capital markets, whether Canaan can stabilize its stock price through compliance rectification has become a key variable for market attention.