Nano Labs announces $500M funding for BNB treasury purchases

Nano Labs, a Chinese Web3 solution provider, is the next big candidate to build a BNB treasury. The company announced a $500M convertible bond financing round, which would be dedicated to purchasing BNB. 

Nano Labs, a Chinese infrastructure company, announced a $500M convertible bond, with the goal of raising funds to purchase BNB and build a treasury. The company will sell convertible promissory notes, already subscribed by a group of investors. 

Just days before the announcement, Nano Labs attracted attention to the growing list of crypto purchases by companies, big and small. The firm spreads across the spectrum as a crypto insider company with a real-world business model linked to chip design and production. 

Public companies are about to race into crypto.

First movers will be seen as visionaries.

Late adopters will be seen as dinosaurs.

The clock is ticking. pic.twitter.com/Rph7nMGiAg

— Nano Labs (@NanoLabsLtd) June 19, 2025

In the past days, this is the second company to announce plans for a BNB treasury, following the recent offer from a group of Coral Capital executives. 

Following the announcement of another potential BNB treasury, the asset continued its recovery, rising to $637.78. For now, BNB is not seeing a treasury race similar to BTC, though it has become a part of the altcoin treasury trend.

Binance’s former CEO Changpeng “CZ” Zhao mentioned he has heard of other companies considering a BNB treasury, encouraging the usage of the token as a long-term asset. 

Nano Labs to offer convertible notes with 360 days maturity

The intended convertible bonds will mature 360 days after the issuance, with no interest payment on the outstanding principal. The notes will be convertible into Class A shares of Nano Labs at any point before maturity, with a conversion price of $20 per ordinary share, subject to adjustment. 

The notes will exist as an unsecured general obligation of the company, meaning holders will have no claim on the underlying BNB treasury. The note issuance is not guaranteed, and will depend on demand. 

Over time, Nano Labs aims to allocate up to $1B for BNB purchases, mostly via convertible notes and private placements. The company has ambitious plans to hold between 5% and 10% of the BNB total circulating supply.

Nano Labs has already built a small BTC treasury after a private share placement. Currently, the company owns 360 BTC acquired at an average price of $99,700. Nano Labs may also increase its holdings as it accepts BTC payments.

The company is already experienced with treasury building and has created partnerships with potential investors. The recent drive for altcoin treasuries also targets mostly blue-chip assets like ETH and SOL, only recently branching out into BNB. 

Nano Labs pivots to a treasury company

Nano Labs mixes the design for integrated circuits with additional Web3 and metaverse infrastructure. The company also produces high-computing chips, aiming to tap into the demand for AI processing. 

The company is now trying to pivot and recover, hoping to compensate for its stock price slide since 2022. 

Currently, Nano Labs (NA) trades at around $10.89, close to a six-month peak. Since 2022, however, NA erased around 90% of its value, down from a peak above $98. The company’s BTC holdings make up around 20% of its market capitalization, though there is no exact data on the BTC per share. 

Nano Labs also made forays into the stablecoin space, recently announcing a drive to issue HKD and RMB tokens. The company is exploring networks for its stablecoins, including Bitcoin and BNB Chain. 

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