
Jakarta, Pintu News – Crypto mining machine maker Canaan is in the spotlight after receiving a potential delisting warning from Nasdaq, a development that has sparked widespread discussion about the health of the mining business and the stability of the global cryptocurrency industry.
Canaan has reportedly received a formal warning from Nasdaq for not meeting minimum share price requirements. The company’s share price was recorded to be below the US$1 threshold during the period specified by the stock exchange regulator. At an exchange rate of IDR16,976 per US dollar, the US$1 level is equivalent to around IDR16,976 per share.
This delisting warning does not mean Canaan is immediately expelled from Nasdaq. The company still has certain deadlines to improve compliance, including by pushing the share price back to the minimum required level.
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Canaan’s share price has come under significant pressure as global demand for crypto mining equipment weakens. This decline reflects the structural challenges that hardware manufacturers face amid the volatility of the cryptocurrency market.
In addition to internal factors, global macroeconomic conditions also affect the stock performance of technology-based companies. Investors tend to be more cautious of stocks with high exposure to the crypto sector, which is known to be volatile.
As one of the main manufacturers of Bitcoin mining machines, Canaan’s position has an important role in the mining industry supply chain. The potential delisting raises concerns regarding the sustainability of mining hardware production and distribution.
Operationally, however, the delisting warning does not necessarily stop business activities. As long as Canaan is able to maintain operations and sales contracts, the direct impact to global crypto mining activity is likely to be limited in the short term.
The crypto mining device manufacturing industry is known for its intense competition. Canaan has to compete with other manufacturers that are aggressive in energy efficiency and technological innovation.
Device pricing pressure and narrowing profit margins pose additional challenges. These conditions make mining manufacturers increasingly sensitive to cryptocurrency price cycles, especially when the Bitcoin price goes sideways or weakens.
Canaan’s management has a number of strategic options to respond to Nasdaq’s warning. Typical steps include a reverse stock split to nominally increase the share price.
In addition, companies can improve financial performance through cost efficiency or expansion into new markets. Business diversification efforts outside of mining equipment are also often considered to reduce dependence on one segment.
For equity investors, potential delisting increases liquidity risk and price volatility. Stocks delisted from major exchanges typically trade in a more limited market with less transparency.
Meanwhile, for crypto market participants, this event is an indicator of the pressure the sector supporting the cryptocurrency ecosystem is undergoing. While it doesn’t directly impact the price of assets like Bitcoin (BTC) or Ethereum , sentiment towards the mining sector could be affected.

Canaan’s case reflects the consolidation phase in the broader crypto industry. After a period of aggressive expansion, many companies are now facing a more selective and efficiency-oriented market reality.
In the long run, these pressures may push the cryptocurrency industry towards a more mature structure. Companies with strong fundamentals and sustainable business models are likely to be better able to withstand market cycles.
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