Nano Labs Plans $1 Billion BNB Acquisition, Aims for 5-10% Supply

Nano Labs Ltd, a Nasdaq-listed Web3 infrastructure provider, has unveiled an ambitious strategic plan to acquire up to $1 billion worth of Binance Coin (BNB). This initiative is part of a broader growth strategy aimed at positioning the company as a significant player in the digital asset space. To fund this acquisition, Nano Labs has entered into a $500 million convertible note agreement with investors. These zero-interest notes, maturing in 360 days, are convertible into Nano Labs’ Class A shares at an initial price of $20 per share.

The company's long-term goal is to hold between 5% and 10% of BNB's total circulating supply, demonstrating a substantial commitment to the cryptocurrency. Before proceeding with the initial phase of the acquisition, Nano Labs will conduct a comprehensive evaluation of BNB’s value and technical resilience. This strategic move builds on the company's earlier crypto ambitions, which were first signaled in December 2024 when Nano Labs announced it would begin accepting Bitcoin payments for its services. However, there was no indication at the time that the company planned to hold BTC on its balance sheet.

If successful, this billion-dollar accumulation would make Nano Labs one of the largest known BNB holders, outside of Binance itself. The latest announcement comes at a time when BNB is gaining interest from institutions. Just a day earlier, former executives of a corporate entity announced plans to raise $100 million for the acquisition of BNB for corporate use. The trio aims to legitimize BNB in public markets through a Nasdaq-listed entity.

This strategic reserve plan by Nano Labs is a bold step into the digital asset space, signaling the company's confidence in the future of BNB. The move is likely to attract further institutional interest in BNB, potentially driving its value and adoption in the broader market. The company's commitment to holding a significant portion of BNB's supply underscores its belief in the cryptocurrency's long-term potential and its role in the evolving digital asset landscape.