Nano Labs launches major BNB accumulation campaign with initial $50M buy

Nasdaq-listed chipmaker Nano Labs (NA) has begun its ambitious plan to accumulate Binance Coin (BNB), making an over-the-counter acquisition of 74,315 BNB tokens, worth $50 million—at an average price of $672.45 per token. This purchase marks the first phase of Nano Labs’ longer-term strategy to allocate up to $1 billion toward BNB, targeting ownership of 5–10% of BNB’s total circulating supply.

Following the acquisition, the firm’s digital asset portfolio—combining Bitcoin and BNB—now totals approximately $160 million. This initiative represents a strategic shift for Nano Labs, pivoting from its core semiconductor business to include crypto reserves as a key component of its treasury management program.

To fund this strategy, Nano Labs issued $500 million in zero-interest convertible notes alongside other private placements, positioning the company to deploy additional capital toward further BNB acquisitions. The conversion options give investors the flexibility to convert debt into company shares, providing a funding mechanism without immediate dilution.

Market reactions were mixed: Nano Labs’ stock dipped about 4.7% on the day of the announcement—falling to around $8.20—after soaring more than 100% since unveiling the convertible note program. Meanwhile, BNB’s price saw a modest boost, climbing approximately 2–3% in response to the news.

Nano Labs now stands as the first U.S.-listed company to adopt BNB as a treasury asset—following in the footsteps of firms that embraced Bitcoin in their reserves. By targeting a sizeable share of BNB’s circulating supply, it’s taking a significant stance on the token’s long-term value and utility within the crypto ecosystem.