Nasdaq Warns Canaan Inc. Over Minimum Bid Price Compliance

Nasdaq Compliance Notice

Canaan Inc. (NASDAQ: CAN), a leading technology company in crypto mining, has received a compliance notice from Nasdaq Stock Market LLC. According to a recent announcement, Canaan's American depositary shares (ADSs) have been trading below the required minimum bid price of $1.00 for 30 consecutive business days, as stipulated by Nasdaq Listing Rule 5550(a)(2).

Compliance Period Granted

The company has been granted a 180-calendar-day period, ending on November 10, 2025, to restore compliance. To achieve this, the closing bid price of Canaan's ADSs must be at or above $1.00 per share for at least 10 consecutive business days during this timeframe.

Potential Extensions and Delisting Risks

If Canaan fails to meet the minimum bid price requirement by the November deadline, it may qualify for an additional 180-day compliance period. This extension would require the company to satisfy other Nasdaq Capital Market listing criteria, excluding the bid price requirement, and to notify Nasdaq of its plans to rectify the deficiency. Failing to comply within the designated period(s) could lead to delisting of the ADSs by Nasdaq.

Company's Response and Strategic Measures

Canaan has stated its commitment to monitoring its stock price and taking necessary actions to regain compliance. Despite the notification, Canaan's ADSs will continue to trade on the Nasdaq Global Market during the compliance period.

About Canaan Inc.

Founded in 2013, Canaan Inc. is renowned for its advancements in ASIC high-performance computing chip design, production of computing equipment, and provision of software services. The company made history by delivering the first ASIC-based mining machines under the Avalon brand. Canaan has been listed on the Nasdaq Global Market since its initial public offering in 2019.

For more information, please visit PR Newswire.