Canaan Inc. Faces Nasdaq Delisting Warning Amid Crypto Slump
Canaan Inc. has received a delisting warning from Nasdaq after its stock price remained below $1 for 30 consecutive trading days. The company must raise its stock price above $1 by July 13, 2026, to avoid delisting. Canaan is considering a reverse stock split to meet the requirement. This marks the second delisting warning for Canaan in less than a year, following a similar notice in May 2025.
The downturn in the cryptocurrency market has significantly impacted Canaan’s stock, which has dropped nearly 30% over the past month. Despite being a leading Bitcoin mining equipment manufacturer, Canaan has struggled with declining market share and profits, exacerbated by competition and a sluggish crypto market. The company has also faced challenges in its AI chip business, which it discontinued in 2025 to refocus on cryptocurrency mining hardware.
