In one last developmentNano Labs Ltd, a leading integrated circuit design company and product solutions provider in China, recently increased its Bitcoin holdings through licensed virtual asset exchange HashKey Exchange in Hong Kong.
As of December 12, 2024, the company owns a total of approximately 360 Bitcoins, with a current value of approximately $36.22 million. The average acquisition cost of his Bitcoin holdings is approximately $99,700 per BTC, including transaction fees.
This announcement comes amid fluctuating cryptocurrency market conditions as companies and investors closely monitor and weigh the stability of digital assets like Bitcoin.
Nano Labs will invest $50 million in Bitcoin
Additionally, in another recent development, Nano Labs announced a private share sale worth $36.25 million. The company plans to accept payments in US dollars, Bitcoin and USDT. Furthermore, Nano Labs has revealed plans to invest $50 million in Bitcoin over the next five years, despite a significant decline in revenue and negative EBITDA.
This strategic move is expected to strengthen Nano Labs’ position in the competitive cryptocurrency mining sector. The money raised will likely be used to boost the company’s technological capabilities and expand its market reach. As demand for efficient mining solutions continues to rise, Nano Labs aims to leverage these resources to innovate and maintain its lead in the industry.
