Nano Labs Expands $1B BNB Reserve Strategy

Nano Labs, a Nasdaq-listed Chinese Web3 and chip company, has announced plans to acquire up to $1 billion worth of Binance Coin (BNB), aiming to hold between 5% to 10% of BNB's total circulating supply as part of a broader digital asset strategy. To support this initiative, Nano Labs executed a $500 million zero-interest convertible promissory notes agreement with institutional investors, with the notes convertible to Class A shares at $20 each and maturing in 360 days. Additionally, the company raised approximately $50 million through a direct share offering and concurrent private placement to further fund its BNB acquisition. This move represents one of the largest institutional attempts to build a treasury reserve in BNB, signaling a shift beyond Bitcoin. Nano Labs' stock price surged over 100% after the announcements, reflecting strong investor enthusiasm. The company is conducting thorough due diligence on BNB's security and market value, and completion of the deals remains subject to customary closing conditions.