Nano Labs Plans $500 Million Convertible Note Sale to Build Up to $1 Billion BNB Treasury, Stock Surges 195%, Secures 600 BTC

Nano Labs Ltd, a Nasdaq-listed crypto mining chip design company, has entered into a $500 million convertible note agreement as part of a treasury strategy focused on accumulating Binance Coin (BNB). The company aims to acquire up to $1 billion worth of BNB, targeting 5–10% of the total supply to establish a BNB-only strategic reserve. This move has led to a surge in Nano Labs’ stock price, which increased by as much as 195% pre-market before settling at a 36% gain. Binance CEO Changpeng Zhao acknowledged the development, noting that his affiliated entities did not participate in the funding round but remain supportive. Additionally, Nano Labs has secured 600 Bitcoin (BTC), valued at approximately $63.6 million, in the first round of the convertible notes, bringing its total BTC holdings to 1,000 coins. The company’s strategy signals growing institutional interest in crypto-native assets and positions it as a rising corporate holder of both BNB and BTC.