Nano Labs Buys $50M in BNB, Boosts Crypto Reserves to $160M

Nano Labs has purchased $50 million worth of Binance Coin (BNB), adding 74,315 tokens to its treasury. The move increases the company’s digital asset holdings to around $160 million.

The acquisition was made through an over-the-counter deal at an average price of $672.45 per token. Nano Labs confirmed the purchase in a press release, describing it as the beginning of a BNB-focused reserve strategy.

Nano Labs Targets $1B BNB Reserve

The China-based firm plans to create a $1 billion BNB treasury over time. To support this initiative, it intends to raise up to $500 million through private placements and convertible notes.

Nano Labs now aims to hold between 5% and 10% of BNB’s total circulating supply. This marks a shift from its earlier strategy that included both Bitcoin and BNB.

Following the announcement, BNB’s trading volume surged to nearly $1 billion. Despite this, the token is down 0.6% in the past 24 hours, trading at $658.

At the same time, Nano Labs’ stock (NA) fell by 9.66% to $7.95 on the day of the news. However, the stock has surged 109% over the past month.

Altcoins Enter Corporate Treasuries

The company’s crypto strategy aligns with a broader trend among firms that are turning to altcoins for treasury diversification. While Bitcoin remains the dominant reserve asset, Ethereum and Solana are increasingly gaining traction among corporations.

SharpLink Gaming, for example, holds nearly 188,500 ETH in its treasury, marking one of the largest Ethereum reserves to date. BitMine, primarily a Bitcoin mining firm, recently raised $250 million to support the launch of a new Ethereum fund.

Solana is also attracting institutional attention. DeFi Development Corp unveiled a $112.5 million plan to boost its SOL holdings, while Upexi and MemeStrategy have joined the trend of accumulating altcoins.

Despite this diversification, bitcoin accumulation remains robust. Public companies added 131,000 BTC in the past three months, and U.S. spot ETFs increased their holdings by another 111,000 BTC, reinforcing bitcoin’s dominance as the leading crypto treasury asset.

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