CORRECTION: Press Release Announcing Purchased About US$50 Million BNB
Rhea-AI Summary
Nano Labs (NASDAQ:NA) has issued a correction to its July 3rd press release regarding its purchase of BNB tokens. The company acquired 74,315 BNB tokens through OTC trading at an average price of $672.45, totaling approximately $50 million.
With this purchase, Nano Labs' total digital currency reserves, including Bitcoin and BNB, have reached $160 million. The company has ambitious plans to acquire up to $1 billion worth of BNB through convertible notes and private placements, with a long-term goal of holding 5% to 10% of BNB's total circulating supply.
Positive
- Strategic acquisition of $50 million worth of BNB tokens expands digital asset portfolio
- Total digital currency reserves reached $160 million
- Ambitious plan to acquire up to $1 billion worth of BNB shows strong growth strategy
- Long-term commitment to hold 5-10% of BNB's total circulating supply indicates significant market position
Negative
- Large capital commitment to volatile crypto assets may pose significant investment risks
- Heavy concentration in BNB tokens could expose company to asset-specific risks
- Substantial future investments in BNB may strain company's financial resources
News Market Reaction
On the day this news was published, NA declined 8.11%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
HONG KONG, July 07, 2025 (GLOBE NEWSWIRE) -- Nano Labs Ltd (Nasdaq: NA) (“we,” the “Company” or “Nano Labs”), a leading Web 3.0 infrastructure and product solution provider in China, today announced a correction to the first paragraph of its press release entitled “Nano Labs Has Purchased About US
The correction is to the Original Press Release’s first paragraph with the original version reading:
“HONG KONG, July 03, 2025 (GLOBE NEWSWIRE) -- Nano Labs Ltd (Nasdaq: NA) (“we,” the “Company” or “Nano Labs”), a leading Web 3.0 infrastructure and product solution provider in China, today announced the purchase of 74,315 Binance Coin (BNB) tokens through the OTC (Over-The-Counter) format at an average price of approximately US
The complete, corrected release follows:
“HONG KONG, July 03, 2025 (GLOBE NEWSWIRE) -- Nano Labs Ltd (Nasdaq: NA) (“we,” the “Company” or “Nano Labs”), a leading Web 3.0 infrastructure and product solution provider in China, today announced the purchase of 74,315 BNB tokens through the OTC (Over-The-Counter) format at an average price of approximately US
The Company committed to thoroughly evaluating the security and long-term value of BNB, aiming to acquire up to US
About Nano Labs Ltd
Nano Labs Ltd is a leading Web 3.0 infrastructure and product solution provider in China. Nano Labs is committed to the development of high throughput computing (“HTC”) chips and high performance computing (“HPC”) chips. Nano Labs has built a comprehensive flow processing unit (“FPU”) architecture which offers solution that integrates the features of both HTC and HPC. In addition, it has established Bitcoin value investment and adopted Bitcoin as primary reserve asset. Nano Labs has established an integrated solution platform covering three main business verticals, including HTC solutions and HPC solutions. The HTC solutions feature its proprietary Cuckoo series chips, which have become alternative Application-Specific Integrated Circuit (“ASIC”) solutions for traditional GPUs. Nano Lab’s Cuckoo series are one of the first near-memory HTC chips available in the market*. For more information, please visit the Company’s website at: ir.nano.cn.
* According to an industry report prepared by Frost & Sullivan.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, the Company’s plan to appeal the Staff’s determination, which can be identified by terminology such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Such statements are based upon management’s current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control, which may cause the Company’s actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.
For investor inquiries, please contact:
Nano Labs Ltd
ir@nano.cn
Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com
FAQ
How many BNB tokens did Nano Labs (NASDAQ:NA) purchase in July 2025?
What is Nano Labs' total digital currency reserve after the BNB purchase?
What are Nano Labs' future plans for BNB token acquisition?
What was the correction made to Nano Labs' July 3rd press release?
How did Nano Labs execute its BNB token purchase?
