Nano Labs (NA), a Nasdaq-listed chipmaker, has entered the crypto market in a big way by purchasing $50 million worth of BNB tokens, signaling the start of a bold $1 billion strategy to accumulate as much as 10% of the token’s total supply.
Based in Hong Kong, the company acquired 74,315 BNB in an over-the-counter deal at an average price of approximately $672.45 per token. This latest buy boosts Nano Labs’ overall crypto holdings — which include bitcoin — to around $160 million.
This investment is the first step in Nano Labs’ ambitious plan to eventually deploy up to $1 billion into BNB, with part of that amount to be raised through $500 million in convertible notes.
Despite the sizable purchase, Nano Labs’ stock price slipped, falling 4.7% on Thursday and declining another 2.15% in after-hours trading to $8.20.
The company joins a growing number of institutional players eyeing BNB as a treasury asset. Recently, a group of former hedge fund managers also revealed plans to raise $100 million to acquire BNB through a Nasdaq-listed special purpose vehicle, signaling broader interest in the token at the corporate level.
