Crypto mining firm Canaan gets Nasdaq notice after shares stay below $1 for 30 days

Canaan Inc, a crypto mining hardware firm, has received a deficiency notice from Nasdaq after the closing bid price of its American depositary shares remained below $1.00 for 30 consecutive business days.

The notice, dated January 14, 2026, cites non-compliance with Nasdaq Listing Rule 5550(a)(2), which requires a minimum bid price of $1.00. Nasdaq said the notification has no immediate impact on the listing or trading of Canaan’s securities, which will continue to trade on the Nasdaq Global Market during the compliance period.

Under Nasdaq rules, Canaan has been granted a 180 calendar day window, through July 13, 2026, to regain compliance. To do so, the company’s ADS price must close at or above $1.00 for at least 10 consecutive business days within that period.

If Canaan does not regain compliance by the deadline, the company may be eligible for an additional compliance period, subject to Nasdaq approval. This would require submitting a transfer application, paying a $5,000 non refundable fee, meeting other initial listing standards, and confirming its intent to cure the deficiency, potentially through a reverse stock split.

Canaan said it will continue monitoring its share price and intends to take reasonable measures to restore compliance. The company disclosed the notice in accordance with Nasdaq rules requiring prompt public disclosure of listing deficiencies.