Key Takeaways:
Nano Labs (NA) surged over 100% after announcing plans to acquire up to $1 billion in Binance Coin (BNB).
The firm will raise $500 million through convertible notes, targeting ownership of 5%โ10% of BNBโs circulating supply.
BNBโs current market cap is approximately $90.3 billion.
The deal is pending due diligence and not yet finalized.
Nano Labs Stock Soars After Disclosing Strategic BNB Purchase Program
Shares of Nano Labs (NASDAQ: NA) more than doubled on Monday following the companyโs announcement of a bold new $1 billion cryptocurrency investment plan centered on Binanceโs BNB token.
The high-performance chipmaker said it has entered a private agreement to sell $500 million in 360-day convertible notes with no coupon. The notes are convertible at $20 per share and may be swapped for Nano Labs' Class A common stock at any time.
Proceeds from the raise will be used to purchase BNB, the native token of the Binance ecosystem, as part of a longer-term strategy to accumulate between 5% and 10% of BNBโs circulating supply. The company also plans to raise additional funds through private placements to reach its $1 billion target.
BNB currently has a circulating supply valued at $90.3 billion, making Nano Labs' target share a potentially significant stake in the asset.
โThis is a long-term treasury initiative. The transaction is not yet closed, and we will assess BNBโs value and security before finalizing,โ Nano Labs stated in its press release.
Market Reaction and Industry Context
Nano Labs stock surged over 100% to $22 on Nasdaq following the announcement. The rally reflects investor excitement around the firmโs pivot into crypto treasury strategies, echoing moves by other public firms that have added Bitcoin or Ethereum to their balance sheets.
The news comes days after a group of former hedge fund executives unveiled plans to raise $100 million via a Nasdaq-listed shell company to buy BNB, underscoring growing institutional interest in the token.
BNB has historically been supported by Binanceโs broad ecosystem, including the Binance Smart Chain, launchpads, staking, and token burns โ giving it utility across DeFi, trading, and infrastructure sectors.
Nano Labs becomes the latest publicly traded company to adopt a crypto-native treasury strategy, this time focusing on BNB instead of Bitcoin. While the deal remains subject to due diligence, the move marks a new chapter in institutional adoption of exchange-native digital assets โ and potentially reshapes the balance sheet models of tech-focused public firms.
