TL;DR
- Nano Labs purchased 74,315 BNB for nearly $50 million via OTC, raising its combined Bitcoin and BNB reserves to around $160 million.
- The company plans to acquire up to $1 billion in BNB through convertible notes and private placements, aiming to control between 5% and 10% of the total circulating supply.
- It announced a $50 million direct stock offering and a $500 million convertible note issuance to finance its BNB accumulation strategy.
Nano Labs completed the purchase of 74,315 Binance Coin (BNB) for approximately $50 million, at an average price of $672.45 per token.
The acquisition was made through over-the-counter transactions and forms part of a plan focused on strengthening the company’s cryptocurrency holdings. With this purchase, Nano Labs increases its combined Bitcoin and BNB reserves to about $160 million.
This move initiates a strategy to acquire up to $1 billion in BNB through convertible notes and private placements in an initial phase. The long-term objective is to hold between 5% and 10% of BNB’s total circulating supply — an ambitious target considering the token’s scale. Nano Labs had already adopted Bitcoin as a reserve asset and now seeks to diversify its portfolio with a significant position in BNB.
Nano Labs Shifts Its Treasury Strategy Toward BNB Accumulation
In addition, Nano Labs has launched a series of financial moves to support these operations. The company announced an agreement to raise $50 million through a direct sale of 5,952,381 Class A ordinary shares at $8.40 per share. It will also issue warrants for the same number of shares, exercisable at $10 each. In parallel, the company signed a deal to issue $500 million in convertible notes, with the option to convert them into Class A ordinary shares at $20.
These financial instruments will be general unsecured obligations and remain subject to standard closing conditions. The company expects these funds to back its objective of progressively increasing its exposure to Binance Coin.
Nano Labs, listed on Nasdaq under the ticker NA, designs high-performance and high-throughput computing chips, known for its Cuckoo series. These processors serve as alternatives to traditional GPUs in high-demand computing environments. The company combines this business with a digital asset investment policy, where Bitcoin — and now BNB — play a central role in its treasury strategy
