Nano Labs Purchases $50 Million in BNB in Ambitious $1 Billion Plan to Control Up to 10% of Tokens

Nano Labs (NA), a semiconductor firm listed on the Nasdaq, has made a substantial investment by purchasing roughly $50 million in BNB tokens from Binance as part of a larger strategy to secure up to 10% of the token’s entire supply.

Headquartered in Hong Kong, Nano Labs acquired 74,315 BNB through an over-the-counter deal at an average price of about $672.45 per token. This purchase brings the company’s total holdings in digital assets—including bitcoin (BTC)—to around $160 million.

The investment marks the first significant step in Nano Labs’ broader goal of committing up to $1 billion to BNB. Part of this funding is expected to come from $500 million in convertible notes.

Despite this bold move into crypto, Nano Labs’ stock took a hit, falling 4.7% on Thursday and dipping another 2.15% in after-hours trading to $8.20.

Nano Labs isn’t alone in targeting BNB for corporate treasuries. Recently, a team of ex-hedge fund professionals announced plans to raise $100 million to purchase BNB through a Nasdaq-listed shell company, signaling growing institutional interest in the token.