Mining company Bitfarms has recently received a notice from the Nasdaq in which it has warned the company that it might be delisted for violating its rules.
The shares of the company have closed the previous trading session below the $1 floor for 30 days in a row. Bitfarms must now regain compliance within 180 calendar days until June 12, 2023 in order to continue trading on the platform.
Bitfarms has emphasized that Nasdaq’s letter is a warning and does not affect the company’s securities trading processes. In addition, the company is also listed on the Toronto Stock Exchange.
The firm’s share price reached $5.22 at the beginning of the year, now its price has fallen by about 90%.