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Gungun Bhatia
Dec 14, 2022
by Gungun Bhatia

Bitfarms Gets NASDAQ Notice About Minimum Bid Price Deficiency

Bitfarms NASDAQ

Table of contents

  1. Bitfarms Receives NASDAQ Notice
  2. Supervision on Company’s Bidding Price
Bitfarms, a multinational Bitcoin self-mining business, declared today that it got a formal letter from the Nasdaq Stock Market LLC on December 13, 2022. According to the notice, the auction price for the Company's common shares had fallen below the minimal US$1.00 per share threshold for continuing Nasdaq listing for the previous thirty consecutive working days.

Bitfarms Receives NASDAQ Notice

The company has been given the first window of 180 days in total, or until June 12, 2023, to return to compliance in line with the Nasdaq Listing Rule. According to the letter, if the auction price of the equity ends at US$1.00 per share or higher for at least ten consecutive working days before June 12, 2023, Nasdaq personnel will notify the company in writing that it has complied with the regulation.

Supervision on Company’s Bidding Price

The Nasdaq letter serves as a defect notice. It has no impact on the trading of the Company's shares, which will remain listed and traded on the Nasdaq under the symbol "BITF." The notice Letter has no impact on the Company's adherence to its listing on the Toronto Stock Exchange, business activities, or financial situation. The Company's shares are also traded on this exchange.

The Company plans to keep a close eye on the trading price of its shares and, if required, assess the choices available to return to compliance with Nasdaq's minimum bid price regulation during the compliance period.

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Bitfarms Nasdaq Stock Market LLC Bid Price Nasdaq listing
Bitfarms Gets NASDAQ Notice About Minimum Bid Price Deficiency
Gungun Bhatia
Gungun is an enthusiastic writer that likes to create content for various aspects of the blockchain and crypto industry. She carries out extensive research and provides readers with informative and high-quality material.

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