Chinese chip designer Nano Labs adds $50 million in BNB to crypto treasury
Powered by ChatGPTNasdaq-listed chip maker Nano Labs (ticker $NA) bought 74,315 $BNB for roughly $50 million at an average price of $672.45, pushing its corporate crypto reserve to about $160 million, the company said Thursday.
The purchase marks Nano’s first scoop since it announced a $500 million convertible-note program on June 24 to acquire $BNB Chain's native token. Management wants to hold 5% to 10% of $BNB’s circulating supply — potentially $1 billion at current prices — after deeming the coin a core treasury asset alongside stable working capital. Nano Labs also holds around 1,000 $BTC, according to Bitcointreasuries data.
Nano, which creates computer chips used in bitcoin mining rigs, as well as AI-focused operations, went public on the Nasdaq in 2022. Shares of the firm jumped nearly 200% and its market capitalization increased to over $181 million after the $BNB strategy was announced last week.
$NA stock fell over 9% after the company announced its latest crypto treasury accumulation, but its market valuation has reached north of $191 million, per Yahoo Finance data.
Nano joins a growing cohort of public firms concentrating corporate treasuries in a single crypto asset. Strategy dominates with 597,325 $BTC, while firms like SharpLink, BitMine, and Bit Digital Immersion focus on ether. Nano ranks as the first U.S.-listed company to anchor its balance sheet around $BNB, though Build & Build Corporation—formed by Coral Capital veterans—plans a $100 million raise to pursue a similar path.