Nano Labs Raises $5.9M in Bitcoin and USDT, Boosts BTC Holdings to 400

Nano Labs, a Nasdaq-listed cryptocurrency mining chip manufacturer, has successfully completed a private placement, raising approximately $5.9 million. The company sold 913,714 shares of Class A common stock at a subscription price of $6.46 per share. Notably, the funds were raised in both Bitcoin and USDT, marking a significant step in the company's cryptocurrency integration strategy.

The private placement was conducted without the need for registration under Section 5 of the Securities Act. This transaction follows a series of investments from prominent institutions such as Fenbushi Capital, Golden Forest, and Longling Capital. These investments have contributed to Nano Labs' growing Bitcoin holdings, which currently stand at approximately 400 bitcoins, with a market value of about $40 million. The average cost of purchasing bitcoins for the company's holdings, including transaction fees, is approximately $99,500 per BTC.

Nano Labs' strategic move to accept Bitcoin and USDT in its private placement highlights the company's commitment to the cryptocurrency ecosystem. By doing so, Nano Labs is not only diversifying its funding sources but also signaling its confidence in the long-term potential of cryptocurrencies. As the company continues to expand its Bitcoin holdings, it is well-positioned to capitalize on the growing demand for cryptocurrency mining chips and the broader cryptocurrency market.