The post Nano Labs rebrands subsidiary to Nano bit, expands into Bitcoin ecosystem appeared on BitcoinEthereumNews.com.

The strategic rebranding of Hangzhou-based Nano Labs indicates a dedication to blockchain development and international market growth. Today, Nano Labs Ltd., a prominent fabless integrated circuit design firm and supplier of product solutions in China, announced that Tsuki HK Limited, its fully-owned subsidiary, has been formally renamed to Nano bit HK Limited. With this rebranding, Nano bit is reentering the Bitcoin ecosystem and intends to create projects and businesses centered around Bitcoin (BTC). Nano Labs’ dedication to promoting blockchain infrastructure innovation is demonstrated by Nano bit HK Limited’s planned focus on BTC ecosystem development. While it remains unclear whether Nano Labs plans to hold BTC on its balance sheet, the chip designer emphasized that accepting the cryptocurrency “aligns with its long-term vision.” In pre-market trading, Nano Labs’ shares are priced at $9.07, marking an increase of 17.03% at the time of writing. It remains to be seen whether the rebranding news will have a continued impact on Nano Labs Ltd’s stock price when the market opens today. Nano Labs LTD 1D chart | Source: Google Finance Founded in 2019 by Kong Jianping and Sun Qifeng, Nano Labs is a fabless IC design and product solution provider based in China, specializing in innovative chip architectures, storage systems, and distributed computing. The firm went public in July 2022, initially aiming to raise $50 million in its U.S. IPO but ultimately securing $20 million. Nano Labs remains a leader in high-throughput and high-performance computing solutions, with its flagship Cuckoo series chips—such as the Cuckoo 1.0, Cuckoo 2.0, and Darkbird 1.0—ranking among the first near-memory high-throughput computing processors on the market. The establishment of Nano bit HK Limited furthers Nano Labs’ goal of promoting technological development while leveraging the increasing significance of blockchain and cryptocurrency in international marketplaces. The company hopes to increase its…

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Filed under: News - @ December 31, 2024 9:19 am