- Canaan must raise its share price above $1 for 10 consecutive trading days by July to avoid Nasdaq delisting.
- The stock traded at about $0.79 at the time of the report and has not closed above $2 since October.
- The firm announced a 50,000‑rig order in October for the Avalon A15 Pro, briefly boosting the share price.
- Largest institutional holder Streeterville Capital fully exited a roughly $439 million position in December, per an SEC filing.
- Nasdaq can grant more time, and firms often use a reverse stock split to meet minimum bid rules.
Canaan, a Singapore‑based Bitcoin mining hardware maker, has until July to push its share price above $1 for at least 10 consecutive trading days to avoid delisting, the company said in a press release on Friday. Nasdaq delivered the notice earlier this week and may provide additional time if the company fails to comply.
The stock traded near $0.79 at the time of the report and lists under the CAN ticker. According to market data, the shares have not traded above $5 since 2022 and last closed above $2 in October.
In October, Canaan announced an order for 50,000 of its Avalon A15 Pro mining rigs, its largest order in three years. "This milestone order represents a significant win for Canaan and reflects the robust resurgence of the U.S. market," the company’s CEO said at the time in the announcement.
That news pushed the stock up about 25% on the day, but the gain proved short‑lived. In early December, Utah‑based investment firm Streeterville Capital exited its position, which the firm reported was worth roughly $439 million in an SEC filing filed Dec. 12.
If Canaan does not meet the minimum bid requirement by July, Nasdaq can extend the compliance period. Companies in similar situations often use a reverse stock split to raise the per‑share price. A recent comparable notice was sent to Kindly MD, which has until June 2026 to meet the same $1 for 10 days rule.
A market data widget was embedded in the original report to show related trading information; see the Ethereum-next-move-pump-to-4k-or-dump-to-2-5k?utm_source=decrypt&utm_id=canaan-nasdaq-delisting”>market embed for context.
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