Nasdaq threatened to delist Bitfarms after the Bitcoin mining business was informed that its stock price did not meet listing standards. Read it on.
- Nasdaq threatened to delist Bitfarms after its stock price did not meet listing standards.
- The stock price had been below $1 per share for 30 consecutive trading days.
Bitfarms, a Bitcoin mining business located in Canada, said on Monday that it has once again met the standards to be listed on the Nasdaq. Bitfarms, a Bitcoin mining company listed on the Toronto Stock Exchange and the Nasdaq, will see a boost to its share price as a result.
Nasdaq threatened to delist Bitfarms after the Bitcoin mining business was informed that its stock price did not meet listing standards since it had been below $1 for many months. Bitfarms shares were up, however, because of the recent surge in Bitcoin prices and increased mining activity.
Compliance Met in Time
Moreover, Bitfarms’ ongoing listing on the Nasdaq stock market was announced in a news release on May 1. The Bitcoin mining company is once again in compliance with the Nasdaq Listing Rule 5550(a)(2) minimum bid price requirement of $1 per share.
Bitfarms received a warning from Nasdaq in December because its stock price had been below $1 per share for 30 consecutive trading days. Bitfarms might lose its stock market listing if its price doesn’t rise to $1 and stay there for at least 10 trading days during the following six months.
Bitcoin mining companies like Bitfarms were able to recover from the financial crisis they had during the bad market because to a number of reasons, including the Bitcoin price recovery, the Bitcoin ordinals inscriptions NFTs, and macro conditions.
On Friday, Bitfarms (BITF) shares dropped 4.92 percent, to $1.16, owing to volatility in the crypto market ahead of the May 3 rate rise decision by the U.S. Federal Reserve. Stock prices and investor optimism might rise, meanwhile, with the latest news on regaining compliance.