Bitcoin Miner Digihost Under Risk of Delisting from Nasdaq

blockchain.news:

Crypto miner Digihost is under scrutiny and has been threatened with getting delisted by Nasdaq for trading below $1 for 30 consecutive days.

The bitcoin miner is among the many that have fallen into the danger zone of losing their spots on major U.S. stock exchanges.

Digihost has been given grace periods of up to 180 days to resolve the issue. The company must comply with Nasdaq listing rules by trading for $1 or more for at least 10 consecutive days.

In a document filed on last Friday, Digihost stated that the company's operations have been going on as usual despite the complaint.

«The Company’s business operations are not affected by the receipt of the Notification Letter, and the Company fully intends to resolve the deficiency and regain compliance with the Nasdaq Listing Rules,» Digihost said in the filing.

Besides Digihost, two other public mining companies have also come close scrutiny from Nasdaq.

Public miners — Mawson Infrastructure Group and BIT Mining — need better stock performance to keep their listings on Nasdaq and the New York Stock Exchange (NYSE), respectively.  

Three other companies fell under the $1 threshold last week alone, and only a few have been trading slightly above that threshold.

In case, the stock price does not recover to over $1 per share, many companies will potentially get delisted from Nasdaq.

The stock price fall is related to the coin's cost, which has fallen about 50% in the last six months and 70% since the all-time high of around $67,550 in November last year.

Furthermore, rising power costs have also added to the strain as it has squeezed profits for bitcoin miners and mining difficulty jumped 13.55% last week to an all-time high.

Meanwhile, last week, a group of crypto firms