China Nano Labs Makes First Purchase of BNB Stockpile…Long-Term Purchase Strategy “Initiated”

Chinese semiconductor company Nano Labs has purchased BNB (Build and Build), kicking off a long-term buying strategy.
Nano Labs has put into action the first phase of its plan to secure up to 10% of the BNB circulating supply. Nano Labs will now target a maximum of $1 billion in
With this purchase, Nano Labs will have a combined total of about $160 million in BNB and Bitcoin.
According to reports, Nano Labs was founded in 2019 by Kong Jianping and Sun Chih-feng.
The company was co-founded by former CEO and former CEO of Singapore-based computer hardware maker Canaan after Qifeng stepped down from the board of directors of the company in 2022.
The company is listed on the Nasdaq and specializes in the manufacture of high-performance, high-throughput computing chips. However, the news of the acquisition of BNB did not cause a big stir in the market.
When BNB first announced its financial strategy by issuing $500 million in convertible bonds, the stock price soared by more than 106%, but after this de facto acquisition, the stock price is trading at 4.
The price of BNB, on the other hand, remained relatively stable at around $663 per unit, up 0.3% on a 24-hour basis.
The condition was maintained.