Nasdaq-Listed Nano Labs Raises $500 Million Convertible Notes, Buys 74,315 BNB, Holds 600 BTC, Builds $160 Million Crypto Treasury

Nano Labs Ltd, a Nasdaq-listed Chinese Web3 infrastructure and product solution provider, has embarked on a strategy to accumulate Binance's BNB cryptocurrency as a core treasury asset. The company announced a $500 million convertible note agreement aimed at funding this initiative, with plans to acquire up to $1 billion worth of BNB, representing approximately 5–10% of the total BNB supply. This move has drawn comparisons to MicroStrategy's Bitcoin acquisition strategy and reflects growing institutional interest in crypto-native assets. In the first round of funding, Nano Labs secured 600 BTC valued at $63.6 million, increasing its Bitcoin holdings to 1,000 BTC.

Recently, the company purchased 74,315 BNB tokens via over-the-counter transactions at an average price of approximately $672.45 per token, totaling around $50 million. This purchase expanded Nano Labs' digital asset reserves to about $160 million, which includes both Bitcoin and BNB holdings. The company's stock price experienced a notable surge following the convertible note announcement, reflecting market optimism about its treasury strategy.