Canaan Inc. Receives Nasdaq Notification Regarding Minimum Bid Requirements

Canaan (NASDAQ: CAN) received a Nasdaq notice on Jan 14, 2026 that its ADSs closed below $1.00 for 30 consecutive business days, triggering noncompliance with Nasdaq Listing Rule 5550(a)(2).

Rhea-AI Summary

Canaan (NASDAQ: CAN) received a Nasdaq notice on Jan 14, 2026 that its ADSs closed below $1.00 for 30 consecutive business days, triggering noncompliance with Nasdaq Listing Rule 5550(a)(2). Nasdaq granted a 180-calendar-day compliance period through July 13, 2026 for the company to regain compliance by achieving a closing bid of at least $1.00 for 10 consecutive business days. If Canaan fails to cure the deficiency, it may apply for an additional compliance period by filing a Transfer Application and paying a non-refundable $5,000 fee and may need to effect a reverse stock split. The ADSs remain listed and tradable during the compliance period.

Positive

• Nasdaq granted a 180-day compliance period through July 13, 2026
• ADSs will remain listed and tradable during the compliance period

Negative

• Closing bid price was below $1.00 for 30 consecutive business days
• Failure to regain compliance by July 13, 2026 may lead to delisting proceedings
• Additional cure may require a reverse stock split and a $5,000 Transfer Application fee

Argus Jan 16 session

-3.82% close to close Open Argus

Details

News Market Reaction – CAN

In the Jan 16 session, CAN declined 3.82%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement formalized that Canaan’s ADSs failed to meet Nasdaq’s US$1.00 minimum bid for 30 s...

Analysis

This announcement formalized that Canaan’s ADSs failed to meet Nasdaq’s US$1.00 minimum bid for 30 straight business days and outlined a 180‑day window, until July 13, 2026, to restore compliance by sustaining a qualifying bid for 10 consecutive sessions. It follows months of mixed price reactions to operational, capital‑raising, and buyback news. Investors may focus on how management balances compliance steps, such as any potential reverse split, with ongoing mining expansion and capital allocation plans.

Key Figures

Minimum bid price: US$1.00 per ADS Sub‑US$1.00 period: 30 consecutive business days Initial compliance window: 180 calendar days +3 more

Minimum bid price

US$1.00 per ADS

Nasdaq Listing Rule 5550(a)(2) requirement

Sub‑US$1.00 period

30 consecutive business days

ADS closing bid below US$1.00 triggering deficiency notice

Initial compliance window

180 calendar days

Period to regain Nasdaq minimum bid compliance until July 13, 2026

Compliance deadline

July 13, 2026

End of initial 180-day minimum bid compliance period

Required compliant streak

10 consecutive business days

ADS bid must be at or above US$1.00 to regain compliance

Nasdaq transfer fee

US$5,000

Non-refundable application fee for potential additional compliance period

Historical Context

5 past events · Latest: Jan 14

5 events

1. Jan 14

   Mining operations update

   24h Move

   +1.8%

   Reported higher deployed and operating hashrate with growing BTC/ETH treasury.

2. Jan 08

   Conference participation

   24h Move

   +2.5%

   Announced participation and presentation at Needham Growth Conference with webcast.

3. Jan 06

   Efficiency proof-of-concept

   24h Move

   -2.2%

   Launched 3.0 MW compute heat recovery PoC at Canadian greenhouse.

4. Dec 17

   Share buyback renewal

   24h Move

   -1.8%

   Renewed US$30M share repurchase program following prior ADS buybacks.

5. Dec 10

   Mining operations update

   24h Move

   -2.3%

   Reported November BTC production, treasury growth, and expanded power capacity.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

american depositary shares, reverse stock split, nasdaq global market, delisting

4 terms

american depositary shares financial

"the closing bid price of its American depositary shares (the "ADSs") was below"

American depositary shares (ADSs) are a way for investors in the United States to buy shares of foreign companies without dealing with international markets directly. They represent ownership in a foreign company's stock and are traded on U.S. stock exchanges, making it easier for American investors to buy, sell, and own parts of companies from around the world.

reverse stock split financial

"intention to cure the deficiency during the second compliance period by effecting a reverse stock split"

A reverse stock split reduces a company's number of outstanding shares while raising the price per share proportionally, so the total value of each investor's holding is unchanged; a 1-for-10 split turns 100 shares worth $1 each into 10 shares worth $10 each. Companies often do this to regain compliance with an exchange's minimum price rule or to attract investors who avoid very low-priced stocks.

nasdaq global market regulatory

"The Company's ADSs will continue to be listed and trade on the Nasdaq Global Market"

The Nasdaq Global Market is a section of the stock exchange where larger, well-established companies are listed and publicly traded. It functions like a marketplace where investors can buy and sell shares of these companies, providing them with access to capital and opportunities for growth. Its role is important because it helps investors identify and invest in reputable companies with strong financial backgrounds.

delisting regulatory

"Nasdaq will provide notice that the Company's securities will be subject to delisting."

Delisting occurs when a company's stock is removed from a stock exchange and is no longer available for trading there. This can happen voluntarily or because the company no longer meets the exchange's requirements. For investors, delisting means they can no longer buy or sell shares of that company on the exchange, which may make it more difficult to sell their investments or affect the stock's value.

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SINGAPORE, Jan. 16, 2026 /PRNewswire/ -- Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), an innovator in crypto mining, today announced that on January 14, 2026, it received a written notice (the "Notice") from the Nasdaq Stock Market LLC ("Nasdaq") indicating that the Company was not in compliance with Nasdaq Listing Rule 5550(a)(2), as the closing bid price of its American depositary shares (the "ADSs") was below US$1.00 per share for the last 30 consecutive business days. The Nasdaq notification letter has no immediate effect on the listing or trading of the Company's securities on Nasdaq.

Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company has been granted a 180-calendar-day compliance period, or until July 13, 2026, to regain compliance with the minimum bid price requirement. To regain compliance, the closing bid price of the Company's ADSs must meet or exceed US$1.00 per share for at least 10 consecutive business days during the 180-calendar-day compliance period.

In the event the Company does not regain compliance by July 13, 2026, subject to the determination by the staff of Nasdaq, the Company may be eligible for an additional time. To qualify, the Company must submit, no later than the expiration date, an on-line Transfer Application and submit a non-refundable US$5,000 application fee. The Company will be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards, with the exception of the bid price requirement, and will need to provide written notice of its intention to cure the deficiency during the second compliance period by effecting a reverse stock split if necessary. As part of its review process, the staff of Nasdaq will make a determination of whether Nasdaq believes the Company will be able to cure this deficiency. Should the staff of Nasdaq conclude that the Company will not be able to cure the deficiency, or should the Company determine not to submit a transfer application or make the required representation, Nasdaq will provide notice that the Company's securities will be subject to delisting.

The Company intends to continue monitoring the closing bid price of its ADSs and will take all reasonable measures in order to regain compliance with the Nasdaq minimum bid price requirement. The Company's ADSs will continue to be listed and trade on the Nasdaq Global Market during the compliance period, unaffected by the receipt of the Notice from Nasdaq.

This announcement is made in compliance with Nasdaq Listing Rule 5810(b), which requires prompt disclosure of receipt of a deficiency notification.

About Canaan Inc.

Established in 2013, Canaan Inc. (NASDAQ: CAN), is a technology company focusing on ASIC high-performance computing chip design, chip research and development, computing equipment production, and software services. Canaan has extensive experience in chip design and streamlined production in the ASIC field. In 2013, Canaan's founding team shipped to its customers the world's first batch of mining machines incorporating ASIC technology under the brand name Avalon. In 2019, Canaan completed its initial public offering on the Nasdaq Global Market. To learn more about Canaan, please visit https://www.canaan.io/.

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the business outlook and quotations from management in this announcement, as well as Canaan Inc.'s strategic and operational plans, contain forward-looking statements. Canaan Inc. may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission ("SEC") on Forms 20-F and 6-K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Canaan Inc.'s beliefs and expectations, such as expectations with regard to revenue or mining hash rate deployment, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company's goals and strategies; the Company's future business development, the ability of the Company to execute against its goals, financial condition and results of operations; the expected growth of the bitcoin industry and the price of bitcoin; the Company's expectations regarding demand for and market acceptance of its products, especially its bitcoin mining machines; the Company's expectations regarding maintaining and strengthening its relationships with production partners and customers; the Company's investment plans and strategies, fluctuations in the Company's quarterly operating results; competition in its industry; changing macroeconomic and geopolitical conditions, including evolving international trade policies and the implementation of increased tariffs, import restrictions, and retaliatory trade actions; and relevant government policies and regulations relating to the Company and cryptocurrency. Further information regarding these and other risks is included in the Company's filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Canaan Inc. does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Investor Relations Contact

Canaan Inc.
Xi Zhang
Email: IR@canaan-creative.com

Christensen Advisory
Christian Arnell
Email: canaan@christensencomms.com

Public Relations Contact

BlocksBridge Consulting
Jesse Colzani
Email: canaan@blocksbridge.com

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SOURCE Canaan Inc.

FAQ

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What action did Nasdaq take regarding Canaan (NASDAQ: CAN) on January 14, 2026?

Nasdaq issued a notice of noncompliance under Rule 5550(a)(2) because Canaan's ADSs closed below $1.00 for 30 consecutive business days.

How long does Canaan have to regain compliance with Nasdaq for CAN?

Canaan has a 180-calendar-day compliance period ending on July 13, 2026 to meet the minimum bid requirement.

What is the specific minimum bid requirement Canaan must meet to cure the deficiency?

The ADS closing bid must be at least $1.00 per share for a minimum of 10 consecutive business days within the compliance period.

Will Canaan's ADSs continue trading while it is noncompliant with Nasdaq?

Yes. The ADSs will remain listed and trade on the Nasdaq Global Market during the compliance period.

What happens if Canaan does not regain compliance by July 13, 2026?

If not cured, Nasdaq staff may begin delisting proceedings or Canaan may apply for a second compliance period by filing a Transfer Application and paying a $5,000 fee, potentially requiring a reverse split.