Nano Labs, a Chinese Web 3.0 infrastructure and product solution provider, announced today that it has acquired $50 million worth of BNB, the native cryptocurrency of the BNB Chain.
After the completion of this transaction, the company’s total digital asset reserves, including Bitcoin (BTC) and BNB, amount to approximately $160 million.
Nano Labs Buys $50 Million in BNB
According to the press release, the company acquired 74,315 BNB at an average price of $672.45 per coin. The transaction was executed through an over-the-counter (OTC) deal.
The $50 million BNB acquisition marks the first step in Nano Labs’ broader goal of building a $1 billion BNB reserve. In line with this, BeInCrypto reported earlier that the firm launched a $500 million convertible notes offering. The notes can be converted into Class A shares at $20 per share.
“Over the long run, Nano Labs intends to hold 5% to 10% of BNB’s total circulating supply,” the press release reads.
Meanwhile, Nano Labs is not alone in using BNB as a reserve asset. Earlier this year, Bhutan’s Gelephu Mindfulness City (GMC) included BNB alongside Bitcoin and Ethereum in its reserves.
This reflects a broader trend where companies are seeking to diversify their reserves beyond the two largest cryptocurrencies. In 2025, assets such as Solana (SOL), XRP (XRP), Hyperliquid (HYPE), and more have attracted institutional interest, with firms increasingly integrating these assets into their financial strategies.
Nonetheless, the Nano Labs’ BNB purchase did nothing to boost the stock prices, which have been falling since last week. While the BNB treasury announcement led to over a 100% surge in value on June 24, NA has shed all of its gains.
According to data from Google Finance, stock prices were down 4.7% at market close. The decline persisted in after-hours trading, with NA falling an additional 2.1%. Despite this, BNB has remained unaffected.
BeInCrypto data revealed that the altcoin appreciated 0.19% over the past day to trade at $661.2. Over the past week, the price has risen 2.6%.
The post Nano Labs’ $50 Million BNB Purchase Fails to Lift Stock, Price Drops 4.7% appeared first on BeInCrypto.
Source link
Kamina Bashir
https://beincrypto.com/nano-labs-buys-50-million-bnb/
2025-07-04 05:32:50
