Nano Labs Ltd, a China-based and Nasdaq-listed Web3 infrastructure company, has shared its comprehensive investment plans for BNB with the public. The company announced on June 24, 2025 that it has reached an agreement with various investors for a total of $500 million in convertible bond issuance.
It will start with a $1 billion BNB purchase
According to the official statement, Nano Labs plans to purchase $1 billion worth of Binance Coin (BNB) in the first phase with the resources to be obtained through this bond issuance. This investment will be made through private placement and convertible bonds. The company's ultimate goal is to hold 5% to 10% of the total BNB supply in the market.
As part of this strategic move, Nano Labs will initiate a comprehensive assessment process regarding the security and value of BNB. This assessment will be of critical importance for the sustainability of the investment. The convertible bonds that investors will subscribe to will be repaid after 360 days without maturity and will not carry any interest. It is stated that these bonds can be converted into Class A shares of the company at the request of investors. The conversion price determined initially will be $20 per share, but this price may be updated in the future depending on various conditions.
The bonds are defined as Nano Labs' unsecured general debt instruments. Certain standard closing conditions must be met for the agreement to be completed. For this reason, the company reminded investors not to rely too much on the press release, adding that it could not give a guarantee that the process would be completed.
Following the announcement, Nano Labs shares took off in pre-market transactions on the US stock exchanges. The company's shares increased by 100% and rose to $21.
What is Nano Labs?
Nano Labs Ltd is known as one of the leading Web3 infrastructure providers based in China. The company stands out with its chip solutions developed in the fields of high-efficiency computing (HTC) and high-performance computing (HPC). In particular, the ASIC chip series called “Cuckoo” is considered one of the first “near-memory HTC” chips to be introduced to the market as an alternative to traditional GPUs.
The solutions offered by the company include Bitcoin value investment, Web3 products, and a platform structure that includes integrated solutions in three main vertical areas. Nano Labs also follows a strategic path that adopts Bitcoin as the main reserve asset.
Why BNB?
Some may wonder, “What does BNB have to do with it?” An easy call - after all, this company is based in China, focused on Web3, and has already adopted Bitcoin as a reserve asset. Therefore, it is not unusual for it to want to enter the altcoin space. Especially when you consider that BNB is the backbone of the ecosystem of Binance, the largest cryptocurrency exchange in terms of daily transaction volume. BNB is needed in many areas at Binance, from transaction fees to launchpads, from DeFi protocols to staking mechanisms.
