Canaan Technology faces delisting risk on Nasdaq

The bitcoin mining industry has just experienced a significant turning point as Canaan Technology – one of the world’s leading mining chip manufacturers – received an official notice from Nasdaq regarding the risk of delisting. According to Odaily, the company received a warning announcement on January 14th of this year, signaling a major challenge to Canaan’s operations in the international capital market.

Canaan Violates Nasdaq’s Minimum Share Price Standards

The Nasdaq notice indicates that Canaan’s American Depositary Shares (ADS) have failed to comply with Rule 5550(a)(2), as the closing price of these depositary receipts has continuously remained below $1.00 per share for 30 consecutive trading days. This is not an uncommon situation for Asian tech companies entering the U.S. market, but for Canaan – a significant player in the industry – it is a concerning signal about its financial health.

Canaan Technology Has 6 Months to Recover

To avoid delisting, Canaan must raise the closing price of its American Depositary Shares (ADS) back above $1 and maintain that level for at least 10 trading days before the final deadline on July 13, 2026. This means the company has approximately 6 months to implement corrective measures and improve its business performance. Canaan Technology needs to develop a clear strategy to recover and regain investor confidence.

Impact on Mining Industry and Investors

Canaan’s situation reflects the broader difficulties faced by the bitcoin mining industry amid market adjustments and increasing competition. For international investors, this serves as a warning about the importance of monitoring the financial health of leading mining companies. If Canaan fails to meet Nasdaq’s requirements, delisting could significantly affect its ability to raise capital and its competitive position in the global market.