Nano Labs Buys $50 Million in BNB Tokens Amid Crypto Strategy Shift

Nano Labs has made a significant move in the cryptocurrency market by purchasing 74,315 BNB tokens in an over-the-counter (OTC) deal valued at approximately $50 million. This transaction, executed on July 3, 2025, brings the company’s combined crypto reserves, which include Bitcoin (BTC) and BNB, to around $160 million. The acquisition is part of Nano Labs' broader strategy to aggressively accumulate BNB, with an ultimate target of holding 5% to 10% of the token’s circulating supply.

This purchase is more than just a treasury play; it represents a strategic shift for Nano Labs. The company, known for its iPollo mining chips, has faced significant challenges in the hardware sector. According to its recent financial report, the company's revenue plummeted by 39% in the second half of 2024, resulting in just $2.2 million in revenue and $8.4 million in losses. Despite these challenges, Nano Labs has been proactive in managing its balance sheet, slashing R&D by 62% and propping up gross margins through inventory adjustments. The company's previous acquisition of 400 BTC, valued at $40 million, was the first step in this strategic pivot towards crypto reserves. The latest BNB buy expands this playbook, setting the stage for future purchases of up to $1 billion through zero-interest convertible notes.

Nano Labs' strategy with BNB is distinct from other institutional plays. While some companies have bet on Bitcoin’s scarcity, Nano Labs is targeting BNB’s utility. BNB underpins one of the most active blockchains in the crypto ecosystem, yet it trades at a 20% discount to its peak due to regulatory challenges faced by Binance. By amassing 5-10% of BNB’s supply, Nano Labs could force a reevaluation of the token’s institutional viability, potentially driving up its value and solidifying its position within the Binance ecosystem.

Nano Labs is not the only player making a significant bet on BNB. Former executives from Coral Capital are raising $100 million through a Nasdaq shell company to hoard BNB, aiming to rebrand it as a corporate reserve asset. Their logic mirrors Nano Labs’: BNB’s value lies in the BNB Smart Chain’s ecosystem, not in Binance’s legal woes. However, the risks are evident. Unlike Bitcoin, BNB’s supply is partly controlled by Binance, with 80 million tokens initially allocated to insiders. The token’s 18% year-to-date gain, while notable, pales in comparison to the gains of other tokens like Cardano (ADA) and Tron (TRX), reflecting lingering skepticism in the market.

This strategic move by Nano Labs underscores the company's confidence in the Binance ecosystem and its potential for future growth. By increasing its holdings in BNB, Nano Labs is positioning itself to benefit from the expanding use cases and adoption of the Binance Smart Chain. The decision to acquire BNB through an OTC transaction suggests a strategic intent to avoid market impact and secure a large position at a favorable price. This proactive approach to managing crypto assets aligns with a broader trend in the industry, where companies are diversifying their crypto holdings to mitigate risks and capitalize on growth opportunities.