The post Nano Labs acquired 74,315 BNB tokens worth $50 million appeared on BitcoinEthereumNews.com.

Nano Labs, a Nasdaq-listed company, has formally announced the start of its $1 billion Binance Coin (BNB) accumulation strategy with a $50 million over-the-counter purchase of 74,315 BNB tokens. The sale occurred at the average rate of $672.45 per token. This China-based chipmaker specializing in high-throughput computing chips used through Bitcoin mining and AI systems now has an estimated $160 million in digital assets, divided into Bitcoin and BNB. The company aims to ultimately own 5% to 10% of the total circulating supply of BNB, which will be financed using convertible notes and private placement. The BNB strategy also makes Nano the first U.S.-listed publicly traded company to regard Binance Coin as a treasury anchor. This strategy is unlike the general trend of most companies storing funds in either Bitcoin or Ethereum. As per Nano, the future purchase of BNB will be supported by zero-interest notes that can be paid in fiat or crypto, and the initial fundraising limit will be up to 500 million dollars. BNB buying spree backed by BTC liquidity The company announced that Nano Labs has raised 600 BTC or $63.6 million in its first convertible notes offering. Some of this reserve was rapidly yet strategically reflected into BNB, a reflection of a careful transition towards platform-native utility tokens. The treasury policy of the company became publicly visible when it disclosed that it had been harboring an unaccounted 400 BTC deposits in its coffers, which it had acquired at the price of $40 million. That earlier purchase predated the BNB pivot and has since grown vigorously through the new acquisition. The company said it would be making extra purchases, and its investors will get new types of convertible debt linked to Nano’s accumulation of crypto reserves. In addition to the arbitrary buildup, the shift by Nano…

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Filed under: News - @ July 4, 2025 8:23 am