Canaan Inc. Regains Compliance with Nasdaq Minimum Bid Price Requirement

Strong operational execution and strategic initiatives reinforce Canaan’s long-term growth outlook

Canaan Inc. (NASDAQ: CAN) (“Canaan” or the “Company”), an innovator in crypto mining announced that it has received a written compliance notification from the staff of the Listing Qualifications Department of the Nasdaq Stock Market LLC (“Nasdaq”) dated October 15, 2025, notifying the Company that it has regained compliance with the minimum bid price of US$1.00 per American depositary share (“ADS”) requirement set forth under the Nasdaq Listing Rule 5450(a)(1) (the “Minimum Bid Price Requirement”).

On October 15, 2025, Nasdaq determined that for the last 10 consecutive business days, from October 1 to October 15, 2025, the closing bid price of the Company’s ADSs has been at US$1.00 per ADS or greater. Accordingly, the Company has regained compliance with the Minimum Bid Price Requirement, and Nasdaq considers this matter now closed.

“Regaining compliance with Nasdaq underscores the market’s confidence in Canaan’s long-term vision and growth potential,” said Nangeng Zhang, chairman and CEO of Canaan. “In spite of global trade policy uncertainty and ongoing bitcoin price volatility, the Company has shown remarkable agility and operational resilience, steadily consolidating its competitive advantages across product innovation, supply chain integration, and international market expansion. Canaan is undergoing a fundamental transformation. We secured a landmark U.S. order for more than 50,000 Avalon® A15 Pro bitcoin miners, entered into a strategic “Gas-to-Computing” initiative to convert flared natural gas into low-cost power for high-density computing in Alberta, Canada, and partnered with Soluna to deploy 20MW of our next-generation Avalon miners. These achievements not only strengthen our global market position but also underscore our long-term commitment to innovation, sustainability, and execution. We remain focused on delivering long-term value for our shareholders and contributing to the ongoing growth of the bitcoin ecosystem.”