Nano Labs Ltd. NA has confirmed a $50 million purchase of 74,315 Binance Coin BNB/USD tokens, expanding its digital currency reserves to approximately $160 million as part of a broader strategic accumulation plan.
The transaction, executed through over-the-counter (OTC) channels at an average price of $672.45 per token, demonstrates the company’s intention to significantly deepen its exposure to Binance Coin.
Nano Labs, which develops high-throughput and high-performance computing solutions, including proprietary “Cuckoo” chips, now manages nearly $160 million in mainstream crypto holdings, including both Bitcoin BTC/USD and BNB.
This move forms the first phase of a $1 billion BNB acquisition plan funded through convertible notes and private placements, with a target of securing 5-10% of BNB’s circulating supply.
The company’s digital treasury strategy builds on a recent $500 million convertible note agreement intended to finance additional BNB purchases.
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Nano Labs emphasized a thorough evaluation of BNB’s long-term viability before committing to future acquisitions.
This accumulation effort positions Nano Labs as a rare publicly listed company, placing significant confidence in BNB.
Their reserve now includes roughly 1,000 BTC, alongside the latest BNB infusion.
Following the initial convertible note announcement, Nano Labs’ stock price doubled, hitting its highest level in two years and boosting BNB’s price by around 2.7%.
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