Bitcoin mining hardware maker Canaan has until July to raise its share price and escape delisting, Nasdaq told the firm earlier this week.
"This milestone order represents a significant win for Canaan and reflects the robust resurgence of the U.S. market," Canaan Chairman and CEO Nangeng Zhang said, in a press release at the time. "It highlights not only the strength of our Avalon A15 Pro but also our deep commitment to serving customers worldwide, with a particular focus on building long-term partnerships in the U.S. market."
The company's stock jumped 25% the same day the news went out. But the investor euphoria didn't last for long.
