Nano Labs Invests $50 Million in BNB Amid $1 Billion Goal to Acquire Up to 10% of Total Supply

Nano Labs (NA), a semiconductor company listed on the Nasdaq, has made a significant foray into crypto by acquiring $50 million worth of Binance’s BNB tokens. This move is part of the firm’s larger plan to potentially hold up to 10% of BNB’s total circulating supply, in a strategy that could involve as much as $1 billion in investment.

The Hong Kong-based company purchased 74,315 BNB through an over-the-counter transaction, paying an average price of around $672.45 per token. With this acquisition, Nano Labs’ total digital asset holdings—including bitcoin—have grown to about $160 million.

This recent buy represents the first big step in Nano Labs’ broader ambition to invest up to $1 billion in BNB, with a portion of the funding expected to come from $500 million in convertible notes.

Despite this aggressive expansion into digital assets, shares of Nano Labs declined 4.7% on Thursday and slipped an additional 2.15% after hours, closing at $8.20.

Nano Labs isn’t alone in pursuing BNB as a corporate asset. A group of former hedge fund executives recently unveiled plans to raise $100 million to invest in BNB via a Nasdaq-listed shell company, further indicating growing institutional interest in the token.