Nano Labs Begins $1 Billion BNB Accumulation Plan With Initial $50M Purchase
Chinese microchip maker Nano Labs has made its first move toward building a massive BNB treasury, revealing a $50 million acquisition of the Binance token. The purchase marks the beginning of an ambitious plan to eventually hold between 5% and 10% of BNB’s total circulating supply, worth up to $1 billion at current prices.
🚨 BREAKING 🚨
Nano Labs just acquired approximately $50M worth of $BNB via OTC — bringing our mainstream digital asset reserve to around $160M.
🔗https://t.co/MrgpeSN0NB pic.twitter.com/XvrlnsqtMC
— Nano Labs (@NanoLabsLtd) July 3, 2025
According to the company’s statement on Thursday, its total crypto holdings — including Bitcoin — now amount to approximately $160 million.
Nano Labs Sets Bold Crypto Treasury Strategy
Founded in 2019 by Kong Jianping and Sun Qifeng, both former Canaan executives, Nano Labs specializes in high-performance computing chips and has been publicly traded since 2022. The firm’s latest crypto play signals a deeper commitment to blockchain infrastructure and tokenized reserves.
Nano Labs previously announced plans to raise $500 million through convertible notes to fund its BNB strategy — a move that initially pushed its stock price up by more than 106%.
However, investors appeared less enthusiastic about the company’s actual BNB purchase. Following the announcement, Nano Labs’ share price dropped 4.7% in Thursday’s trading and fell another 2% after hours, closing at $8.21.
BNB Market Reaction Muted
The market response to Nano Labs’ BNB acquisition was largely subdued. BNB edged up just 0.3% over the past 24 hours, trading near $663, with little sign of sustained momentum from the announcement.
With a circulating supply of 145.9 million BNB and a market cap of $93.4 billion, acquiring 10% of BNB would cost around $926 million at current prices — a significant challenge given Binance’s ongoing token burn mechanism, which steadily reduces total supply.
A 2024 Forbes report also highlighted that Binance and its former CEO Changpeng “CZ” Zhao still jointly control approximately 71% of BNB’s supply, raising further questions about long-term token accessibility.
Skepticism Surrounds Crypto Treasury Trend
While corporations increasingly add crypto to their treasuries, some experts remain cautious about the trend’s longevity. SkyBridge Capital founder Anthony Scaramucci told Bloomberg he believes the appeal of investing in crypto-holding companies may fade over time.
“If you’re giving somebody $10 and they’re putting $8 into Bitcoin, are they going to do well? Yes. But you might have been better off just putting $10 into Bitcoin,” Scaramucci said.
Though he remains bullish on Bitcoin, Scaramucci questioned the efficiency and underlying costs of crypto treasury firms, noting that direct crypto exposure may eventually prove more attractive to investors than relying on proxy vehicles.
Outlook: Long Road to 10% Ownership
Nano Labs’ vision of holding 5–10% of all circulating BNB presents both technical and market hurdles. At current prices, they still need to spend roughly $766 million more to reach the lower end of their target.
Nonetheless, the move signals growing corporate interest in crypto treasuries — even as experts debate whether such strategies will remain viable in the long term.
