The Nasdaq-listed company revealed it has snapped up 74,315 BNB tokens for roughly $50 million at an average price of $672.45, marking a major step in its broader plan to load up its crypto treasury.
This isn't a one-off bet, either, Nano says it's just getting started.
A $1B plan to anchor around BNB
According to the press release, this $50 million purchase is part of a larger strategy announced last month when Nano rolled out a $500 million convertible-note program to fund BNB acquisitions.
The company aims to eventually hold between 5% and 10% of BNB’s circulating supply, which would require about $1 billion at current prices.
In its own words, Nano described this as a “successful initial step in Nano Labs’ BNB strategic plan,” and added that the purchase “underscores its commitment to increasing BNB holdings over time.”
The company’s crypto holdings, which already included around 1,000 BTC, now total approximately $160 million in value.
While its move drew some side-eye from the stock market, Nano’s share price dipped over 5% following the announcement, investors had previously sent its stock soaring nearly 200% after the initial BNB plan dropped.
Its market cap now sits around $191 million, per Yahoo Finance.
A unique play among public companies
Unlike firms like MicroStrategy, which has made Bitcoin its primary treasury asset, or Bit Digital and SharpLink, which favor Ethereum, Nano Labs is carving its own lane by anchoring around BNB.
It's currently the only U.S.-listed company with this specific crypto allocation focus, though others may soon follow.
Build & Build Corporation is already looking to raise $100 million for a similar BNB-heavy strategy.
Nano, which designs chips for both Bitcoin mining and AI use cases, went public in 2022 and has been building out its web3 infrastructure profile ever since.
