SOLAI Limited Receives NYSE Continued Listing Notice and Board Changes

SOLAI Limited Receives NYSE Continued Listing Notice and Announces Board Changes

On February 27, 2026, SOLAI Limited (NYSE: SLAI), known for its technology-driven approach in the cryptocurrency infrastructure sector, disclosed a crucial update regarding its stock listing. The company, previously trading as BTCM, was informed by the New York Stock Exchange (NYSE) that it is currently not in compliance with the continued listing guidelines. This notification came due to the average closing price of the company's American Depositary Shares (ADSs) falling below the necessary threshold of $1.00 over 30 consecutive trading days.

Listing Compliance and Company Response

The notice received on January 29, 2026, highlighted that as of January 28, 2026, the average closing price of SOLAI's ADSs was below the required figure. In response, SOLAI has submitted an intention to the NYSE to correct this compliance issue. The company has a designated six-month period, termed the "Cure Period," to meet the average share price requirement.

During this time, if at any month's end within the Cure Period the ADSs achieve a closing price of $1.00 or more, compliance may be regained. If SOLAI fails to restore compliance within the stipulated period, the NYSE could initiate suspension and delisting procedures. However, it is worth noting that this notice does not have an immediate impact on the trading status of the company's ADSs, which will continue to be traded on the exchange, provided that the company remains compliant with other listing standards.

While the situation regarding compliance is closely monitored, SOLAI continues to operate without disruption to its business activities, adhering to its reporting obligations to the U.S. Securities and Exchange Commission.

Changes to the Board of Directors

In further developments, SOLAI has also announced changes to its Board of Directors. Mr. Qian Sun has stepped down from his role as an independent director due to personal reasons but clarified that there was no disagreement involved with the Board. He expressed gratitude for his tenure and wished the company success moving forward.

In the wake of Mr. Sun's resignation, the company welcomed Mr. Zhan Chen as his successor. Mr. Chen's appointment is effective immediately. His background fits the NYSE's criteria for an independent director, and he will join critical committees including audit, nominating and governance, and strategy.

Mr. Chen brings a wealth of knowledge and experience from various sectors, with a strong entrepreneurial background. He is the founder and CEO of Open Mouth Food Inc., focusing on premium food products, and has a proven track record of success with prior ventures like Boba Labs Inc. and Qin Yan Tech. His educational credentials include a degree from East China University of Political Science and Law and participation in esteemed programs at Tsinghua University and China Europe International Business School.

Company Outlook

Bo Yu, SOLAI's Chairman and COO, expressed deep appreciation for Mr. Sun's contributions since 2013 and is optimistic about Mr. Chen's potential impact as the company strategizes for future growth. SOLAI Limited, originally known as BIT Mining Limited, aims to diversify its portfolio beyond crypto mining, venturing into blockchain ecosystems that include AI, stablecoins, and payment infrastructures. The company remains committed to improving on-chain efficiency while expanding participation in its core market of cryptocurrency and technology.

As SOLAI navigates these challenges and changes, the focus remains on enhancing shareholder value and maintaining robust operational standards in a rapidly evolving industry.