Nano Labs to Invest $500 million in BNB Tokens for Treasury Diversification

Nano Labs Ltd announced that it has signed a purchase agreement for $500 million of convertible notes to fund BNB acquisitions as part of its treasury diversification strategy.

The convertible notes carry zero interest and mature in 360 days. Holders can convert the notes into Class A ordinary shares at $20 per share. Several private investors subscribed to the notes, though Nano Labs did not identify specific participants.

The notes rank as unsecured general obligations of the company. If holders choose not to convert, Nano Labs must repay the full principal amount at maturity. The agreement includes standard anti-dilution provisions that allow for the adjustment of the conversion price under certain circumstances.

The transaction is subject to customary closing conditions. Nano Labs cautioned that completion cannot be guaranteed.

BNB Investment Strategy and Treasury Goals

Nano Labs plans to use the $500 million to begin purchasing BNB tokens. The company stated it will conduct security and value assessments before executing purchases. Ultimately, it aims to acquire up to $1 billion worth of BNB, funded through these convertible notes plus additional private placements.

The company's longer-term goal involves holding 5% to 10% of BNB's total circulating supply, though this depends on market conditions and token availability. BNB currently has approximately 140.9 million tokens in circulation.

BNB traded near $640 per token on June 24, giving it a market capitalization of roughly $90 billion. The token ranks among the top five cryptocurrencies by market value and serves as the native asset of the Binance ecosystem.

Related: Standard Chartered Predicts BNB Price Could Double in 2025

Expanding Beyond Bitcoin and Building Infrastructure

Nano Labs already holds Bitcoin as its primary reserve asset, establishing this position earlier in 2025. The BNB acquisition expands the company's cryptocurrency holdings beyond Bitcoin. Management views holding multiple major cryptocurrencies as supporting growth and infrastructure development.

Nano Labs operates as a Web3 infrastructure provider specializing in high-throughput computing and high-performance computing chips. The company developed a flow processing unit architecture that combines HTC and HPC features.