{"id":526954,"date":"2022-12-14T16:54:02","date_gmt":"2022-12-14T13:54:02","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/nasdaq-warns-bitcoin-mining-firm-bitfarms-about-share-price-deficiency\/"},"modified":"2022-12-14T16:54:02","modified_gmt":"2022-12-14T13:54:02","slug":"nasdaq-warns-bitcoin-mining-firm-bitfarms-about-share-price-deficiency","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/nasdaq-warns-bitcoin-mining-firm-bitfarms-about-share-price-deficiency\/","title":{"rendered":"# Nasdaq warns Bitcoin mining firm Bitfarms about share price deficiency"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a23a37dab252\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a23a37dab252\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/nasdaq-warns-bitcoin-mining-firm-bitfarms-about-share-price-deficiency\/#%E2%80%9D_Nasdaq_warns_Bitcoin_mining_firm_Bitfarms_about_share_price_deficiency_%E2%80%9C\" >&#8221; Nasdaq warns Bitcoin mining firm Bitfarms about share price deficiency &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Nasdaq_warns_Bitcoin_mining_firm_Bitfarms_about_share_price_deficiency_%E2%80%9C\"><\/span>&#8221; Nasdaq warns Bitcoin mining firm Bitfarms about share price deficiency &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-30a6cf80>The Canadian Bitcoin (BTC) mining firm Bitfarms is facing compliance challenges over its listing on Nasdaq due to the ongoing cryptocurrency winter.<\/p>\n<p>Bitfarms\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/bitfarms.com\/media\/news\/detail\/171\/bitfarms-receives-nasdaq-notification-regarding-minimum-bid\">received<\/a> a warning notification from Nasdaq on Dec. 13 because the company\u2019s share price has stayed below $1 for 30 consecutive working days.<\/p>\n<p>Announcing the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> on Dec. 14, Bitfarms said that it has an initial period of 180 calendar days to regain compliance with the requirements from Nasdaq.<\/p>\n<p>In order to regain compliance, Bitfarms\u2019 shares should close at $1 per share for a minimum period of 10 consecutive days at any time before June 12, 2023. In such an event, the Nasdaq staff will provide written notification to Bitfarms that it has achieved compliance, the announcement notes.<\/p>\n<p>The 180-day period is not the final limit, however. Bitfarms noted that it will have a chance to extend the compliance period further even after June 12, stating:<\/p>\n<blockquote><p>\u201cIf the company does not regain compliance with Rule 5550(a)(2) by June 12, 2023, the company may be eligible for an additional 180 calendar day compliance period.\u201d<\/p><\/blockquote>\n<p>The company stressed that the Nasdaq letter is only a notification and has no im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>te effect on the listing or trading as the Bitfarms shares (BITF) will continue to trade on the exchange.<\/p>\n<p>Bitfarms also noted that the company remains to be listed on the Toronto Stock Exchange and the latest notice from Nasdaq has no impact on the firm\u2019s compliance status with such listing or its business operations.<\/p>\n<p>As previously reported by Cointelegraph, Bitfarms debuted stock trading on Nasdaq in June 2021, just a few months after going public on the Toronto Stock Exchange in April.<\/p>\n<p>After reaching an all-time high at roughly $6 in December 2021, the Bitfarms stock has been gradually selling out on Nasdaq, in line with the ongoing cryptocurrency bear market.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>BTC difficulty drops by the biggest margin since 2021<\/em><\/strong><\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-12\/cb6b34a3-4556-4c9b-a07f-cd61558a5d26.png\"><figcaption style=\"text-align: center;\"><em>Bitfarms\u2019<\/em><em> <\/em><em>stock on\u00a0<\/em><em>Nasdaq\u00a0<\/em><em>one-year chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>According to data from TradingView, Bitfarms\u2019 shares <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/NASDAQ-BITF\/\">dropped<\/a> below $1 in late October 2022 and have not retested the $1 price mark since. Bitfarms\u2019 stock closed at $0.54 on Dec. 13, seeing a 7.6% increase over the day.<\/p>\n<p>Bitfarms is one of many cryptocurrency mining companies facing major issues due to the ongoing crisis in the market. In June, the firm was forced to sell about $62 million worth of self-mined Bitcoin in order to reduce its debt. A number of other mining firms, including Argo Blockchain, Core Scientific and Riot Blockchain, also opted to sell their Bitcoin amid tough market conditions.<\/p>\n<p>On Dec. 12, Argo Blockchain said that it has been considering selling its assets in order to avoid filing for bankruptcy.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/nasdaq-warns-bitcoin-mining-firm-bitfarms-about-share-price-deficiency\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Nasdaq warns Bitcoin mining firm Bitfarms about share price deficiency &#8220; The Canadian Bitcoin (BTC) mining firm Bitfarms is facing compliance challenges over its listing on Nasdaq due to the ongoing cryptocurrency winter. Bitfarms\u00a0received a warning notification from Nasdaq on Dec. 13 because the company\u2019s share price has stayed below $1 for 30 consecutive&#8230;<\/p>\n","protected":false},"author":1,"featured_media":526955,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2022-12\/cce41946-3068-4115-a026-ab4b5c57d1e9.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74989,74863,75042,117,22974,72332],"class_list":["post-526954","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-mining","tag-cryptocurrencies","tag-mining","tag-business","tag-canada","tag-nasdaq"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/526954","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=526954"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/526954\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/526955"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=526954"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=526954"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=526954"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}