TLDR

Nasdaq issued Canaan (CAN) a deficiency notice after shares stayed under $1 for 30 straight business days
The crypto mining hardware company has until July 13, 2026 to meet the $1 minimum bid price for 10 consecutive days
Canaan stock closed at $0.79 Friday, down 63% year-over-year as mining firms pivot to AI computing
A reverse stock split remains an option if the company cannot naturally lift its share price above compliance thresholds
Failure to meet requirements would push Canaan to over-the-counter markets where liquidity typically drops

Canaan faces a critical test. The crypto mining equipment manufacturer received a compliance notice from Nasdaq this week.

Canaan Inc., CAN

The exchange alerted Canaan on January 14 that its stock violated listing requirements. Shares have closed below $1 for 30 consecutive business days.

Canaan now has 180 days to correct the deficiency. The clock runs out on July 13, 2026.

The company must achieve a closing bid price of at least $1 per share. That threshold needs to stick for a minimum of 10 straight trading days.

Canaan stock finished Friday’s session at $0.79. The shares haven’t closed above $1 since November 28, 2024.

Steep Decline Reflects Market Headwinds

The numbers tell a rough story. Canaan shares have crashed 63% over the past year.

The stock last traded above $3 in December 2024. Multiple factors are weighing on the mining hardware sector.

Crypto mining operations are changing their business models. Many companies now dedicate resources to AI computing instead of cryptocurrency mining.

This trend has crushed demand for specialized mining equipment. Canaan’s core product line depends on these sales.

The company did land one major contract recently. A US buyer ordered 50,000 Avalon A15 Pro mining rigs in October.

That deal represented Canaan’s biggest order in three years. Shares jumped 25% on the announcement.

Reverse Split Could Be Coming

Canaan management has options on the table. The company says it will actively monitor share price movements.

Officials pledged to take appropriate steps to regain compliance. A reverse stock split tops the list of potential actions.

This corporate move consolidates existing shares into fewer units. The result boosts the per-share price mathematically.

If the July deadline passes without compliance, Canaan can request more time. Nasdaq may extend the window if the company commits to specific remedies.

Rejection means delisting becomes reality. Stocks removed from major exchanges typically shift to over-the-counter platforms.

These markets offer less liquidity and transparency. Share prices often tumble when investors learn about pending delistings.

Other Companies Face Similar Pressure

Canaan isn’t the only firm dealing with this problem. Kindly MD got the same type of notice from Nasdaq in December.

Kindly MD stock trades at $0.46. The company has until June to fix its compliance status.

Windtree Therapeutics shows what happens when companies fail. Nasdaq delisted the biotech firm in August.

Shares collapsed 77% on delisting day. Investors scrambled to sell before the exchange removal became final.

Canaan’s closing bid price must reach $1 for 10 consecutive trading days before the July 13, 2026 deadline to maintain its Nasdaq listing.

The post Canaan (CAN) Stock: Mining Hardware Maker Gets 180 Days to Fix Nasdaq Compliance Issue appeared first on Blockonomi.

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Filed under: Bitcoin - @ January 19, 2026 2:28 pm