Crypto mining machine developer AGM Group received a notice from Nasdaq that it did not meet the minimum bid requirements and may face delisting

AGM Group, a developer of cryptocurrency mining machines and a publicly listed company of blockchain ASIC chips, has announced that it has received a notification from NASDAQ regarding non-compliance with the minimum bid price requirement. This is because the closing price of the company's Class A common stock has been below the minimum price of $1.0 per share for 30 consecutive working days. If the company fails to meet NASDAQ listing rules by September 9, it may face delisting. Currently, AGM Group's ASIC chips are mainly used for cryptocurrency mining machines, and the company's business also involves the assembly and sale of Bitcoin mining machines.