Bitfarms Ltd. - President & CEO, Geoffrey Morphy.
President & CEO, Geoffrey Morphy.
Source: Twitter.
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  • Bitfarms (BITF) has received written notification from the Nasdaq Stock Market LLC regarding the bid price for the company’s common shares
  • The company’s common shares have closed below the minimum US$1.00 per share requirement for continued listing on Nasdaq
  • The company has been provided 180 calendar days, or until June 12, 2023, to regain compliance
  • The notification has no immediate effect on the listing or trading of the company’s shares
  • If Bitfarms does not regain compliance by June 12, 2023, the company may be eligible for an additional 180 calendar day compliance period
  • Bitfarms is a global Bitcoin mining company
  • Bitfarms Ltd. (BITF) opened trading at C$0.74

Bitfarms (BITF) has received written notification from the Nasdaq Stock Market LLC.

The notification indicates that, for the last thirty consecutive business days, the bid price for the company’s common shares has closed below the minimum US$1.00 per share requirement for continued listing on Nasdaq.

The company has been provided 180 calendar days, or until June 12, 2023, to regain compliance. If at any time before June 12, 2023, the bid price of the company’s shares closes at US$1.00 per share or more for a minimum of ten consecutive business days, the Nasdaq staff will provide written notification that the company has achieved compliance with Rule 5550(a)(2).

The Nasdaq letter is only a notification of deficiency. It has no immediate effect on the listing or trading of the company’s shares.  Shares will continue to trade on Nasdaq under the symbol BITF. Bitfarms’ shares are also listed on the Toronto Stock Exchange. The notification letter does not affect the company’s compliance status with the TSX, nor does it affect the Company’s business operations or financial condition.

The company intends to continually monitor the bid price of its shares and evaluate available options to regain compliance with Nasdaq’s minimum bid price. If Bitfarms does not regain compliance by June 12, 2023, the company may be eligible for an additional 180 calendar day compliance period.

Bitfarms is a global Bitcoin mining company with facilities in Quebec, Washington and Paraguay.

Bitfarms Ltd. (BITF) opened trading at C$0.74.


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