Canaan CAN Share Price Under Fire: Nasdaq Delisting Warning Forces 180-Day Turnaround

Canaan Inc. is running out of time. The cryptocurrency mining equipment manufacturer received a critical notice from Nasdaq on January 14, 2026—a formal warning that the company’s Canaan CAN share price has breached the exchange’s minimum trading standards. After 30 consecutive business days of trading below the $1 mark, Nasdaq has handed down an ultimatum: restore compliance within 180 days or face delisting from the world’s largest stock exchange.

With a July 13, 2026 deadline looming, Canaan must demonstrate that its Canaan CAN share price can hold at $1 or higher for at least 10 consecutive trading days. As of Friday, the stock languished at just $0.79—a sobering reminder of how far the company has fallen. Over the past 12 months, shares have plummeted 63%, with the stock failing to break above $3 since December 2024. The company last traded above $1 on November 28, 2024, marking a dramatic erosion of shareholder value.

The Crushing Reality: How Mining Hardware Demand Collapsed

The decline in Canaan’s Canaan CAN share price reflects a seismic shift in the cryptocurrency industry itself. Major mining operations have begun pivoting away from traditional crypto mining toward artificial intelligence infrastructure. These companies now prioritize supplying computing power for AI applications rather than maintaining fleets of cryptocurrency mining rigs.

This transition has gutted demand for Canaan’s core product line. The company built its business model on selling specialized Avalon mining equipment to operators worldwide. As the industry’s priorities shifted, so too did Canaan’s revenue prospects and, consequently, its stock valuation.

The company did secure a bright spot recently. In October 2025, a U.S.-based firm placed an order for 50,000 units of Canaan’s Avalon A15 Pro mining rigs—the largest order in over three years. The announcement temporarily revived investor enthusiasm, sending shares surging 25% on the news. However, this rally proved temporary, ultimately unable to reverse the broader downward trajectory.

The Compliance Challenge Ahead

Nasdaq has given Canaan multiple arrows in its quiver to survive the delisting threat. Management has publicly committed to monitoring the situation and implementing “reasonable measures” to restore compliance. The company is contemplating a reverse stock split as its primary strategy—a corporate maneuver that consolidates existing shares, thereby increasing the nominal price per share without changing the company’s market capitalization.

For example, a 1-for-10 reverse split would transform shares trading at $0.79 into shares trading at approximately $7.90, instantly clearing the $1 hurdle. However, such moves often trigger additional selling pressure as investors balk at perceived dilution, potentially creating a counterproductive outcome.

Should Canaan falter before the July 13 deadline, the company retains the option of petitioning Nasdaq for a time extension. The exchange occasionally grants additional breathing room if management presents a credible plan to boost valuations. However, Nasdaq’s tolerance has limits. If regulators determine that fundamental business challenges prevent meaningful share price recovery, delisting becomes inevitable.

Reverse Splits and Last-Minute Saves

The consequences of failing to regain Nasdaq compliance are severe. Delisted securities typically migrate to over-the-counter markets—decentralized trading venues where liquidity evaporates, transaction costs spike, and price discovery becomes murkier. Following delisting, shares often experience precipitous declines as institutional investors are forced to exit positions and retail participation dries up entirely.

Canaan is hardly alone in facing this existential threat. Kindly MD received an identical Nasdaq notice in December for sustaining below-$1 trading for 30 consecutive days; its shares closed at $0.46 on Friday, leaving the company until June to achieve compliance. Windtree Therapeutics offers a cautionary precedent—Nasdaq delisted the biotech company in August after it failed compliance requirements. On the delisting announcement day alone, shares plunged 77% as panicked shareholders rushed for the exits.

Industry Warnings: What Delisting Actually Means

For Canaan shareholders, the stakes could hardly be higher. A successful turnaround requires the company to restore confidence in its long-term viability while simultaneously reversing months of downward momentum. The challenge is compounded by structural headwinds: the industry’s migration toward AI computing power fundamentally threatens the relevance of crypto-specific hardware.

Investors monitoring Canaan’s situation should recognize the broader pattern at play. As crypto mining becomes less profitable relative to AI infrastructure provisioning, hardware manufacturers dependent on the former face an existential recalibration. Canaan’s battle to lift its share price above $1 is not merely a technical stock-listing issue—it’s a referendum on whether the company can meaningfully adapt its business model before capital markets render their final judgment.

The 180-day window represents both deadline and opportunity. Whether Canaan’s management can harness strategic initiatives—whether reverse splits, new product lines, or unexpected market catalysts—to revive its Canaan share price trajectory will determine not just its listing status, but its viability as an independent enterprise navigating a rapidly transforming industry.