Nasdaq warns Digihost, a Bitcoin miner, of potential delisting

The American mining company Digihost Technology received from Nasdaq a warning about a possible delisting.

The reason was that the company’s shares traded for 30 consecutive business days below one dollar—the minimum price threshold set by the exchange rules.

Nasdaq Stock Market designated a 180-day period for Digihost—from now until 10 April 2023—to bring its quotations into compliance with the rules.

“The receipt of the notice does not affect the company’s business operations, and Digihost fully intends to remedy the deficiencies and restore compliance with Nasdaq’s listing rules,” the mining firm said.

During the designated period Digihost will continue to trade on the New York Stock Exchange. The company’s shares are also listed on the Canadian TSX Venture Exchange.

After the expiry of the period, the firm may apply for another 180-day grace period on Nasdaq. However, the company said that in the near term it intends to achieve compliance with the minimum listing price. This would require the shares to trade above one dollar for at least ten consecutive days.

As of writing, the stock was trading in premarket at $0.71. At their peak, the quotes reached $7.85.

Together with its hosting capacity, Digihost operates equipment with a total hashrate of around 650 PH/s.

The company’s strategic partner is Bit Digital, which moved bitcoin-mining operations from China to North America.

As part of the collaboration, the company aimed to bring the total hashrate to ~2.4 EH/s.

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