Nano Labs Ltd Announces $50M BTC Purchase Plan

Nano Labs Ltd (Nasdaq: NA) today announced its plan to purchase and hold $50 million worth of Bitcoin ("BTC") over the next five years. This strategic decision underscores the Company's confidence in BTC as a long-term store of value and a foundational asset within the rapidly evolving Web 3.0 ecosystem.

As an active participant in the Web 3.0 space, Nano Labs has consistently expanded its presence through innovative product offerings, including its B series for BTC mining and V series for ETC ("ETH") mining. The Company views BTC as an increasingly pivotal role in the digital asset ecosystem, driven by recent market trends, favorable policy shifts, and growing institutional adoption.

By incorporating BTC into its strategic asset portfolio, Nano Labs aims to strengthen its market position and contribute to the broader adoption and growth of the digital economy.

The Company cautions investors that the purchase plan may be affected by various factors, including but not limited to: market conditions, regulatory changes, the Company's financial position, and other business considerations. The Company is not obligated to execute this purchase plan and may modify, suspend, or abandon it at any time without notice.

Source: Investing.com