Bitcoin Miner Canaan Has 180 Days to Escape Nasdaq Delisting — Will It Survive?

Core Viewpoint - Canaan is facing challenges to maintain its Nasdaq listing due to its stock price falling below the minimum bid price of $1 for 30 consecutive business days, triggering a 180-day compliance period [1] Group 1: Compliance and Listing Status - Nasdaq issued a formal notice to Canaan regarding its shares being listed below the minimum bid price, activating a compliance period ending July 13, 2026 [1] - The notice does not have an immediate effect on the listing or trading of Canaan's American depositary shares, which will continue to be traded on the Nasdaq Global Market during the compliance period [2] - To regain compliance, Canaan's stock must close at or above $1 for at least 10 consecutive business days before the end of July, or the company may seek another grace period [3] Group 2: Stock Performance and Market Sentiment - Canaan's shares are currently trading around $0.79, significantly below $1, and have not traded above $5 since 2022, with the stock losing more than half its value over the past year [4] - Despite some short-term rebounds, the overall trend for Canaan's stock has been negative, reflecting investor skepticism [4] Group 3: Operational Performance and Financials - Canaan reported a significant operational improvement in 2025, including a major hardware purchase of 50,000 Avalon A15 Pro mining rigs, but this did not lead to sustained stock performance [5] - Investor confidence was further shaken when Streeterville Capital, Canaan's largest institutional holder, sold its entire position, raising concerns about liquidity and long-term profitability [6] - Financially, Canaan's revenue surged over 2.5 times year-over-year in Q3 2025 to $150.5 million, yet the company still reported a net loss of $27.7 million [7]