bullish

Bitcoin

Nano

Reserve

<ul class="wp-block-list">
 <li>Nano Labs holds $36.22 million in Bitcoin, acquired at an average cost of $99,700 per BTC via HashKey Exchange.</li>  
 <li>The company raised $36.25 million through a private share sale, accepting payments in USD, Bitcoin, and USDT.</li>  
 <li>Nano Labs plans a $50 million Bitcoin investment over five years, aligning with its focus on digital asset integration.</li> 
</ul>  
<p>Nano Labs Ltd, a Chinese fabless circuit design company, has <a href="https://x.com/BitcoinMagazine/status/1867217287066816813" rel="noopener noreferrer nofollow">announced</a> its updated Bitcoin holdings. As of December 13, 2024, the company holds approximately 360 Bitcoins, valued at $36 million. Nano Labs revealed an average acquisition cost of $99,700 per Bitcoin, including transaction fees. The acquisition occurred through HashKey Exchange, a licensed platform based in Hong Kong.&nbsp;&nbsp;</p>  
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<p>Bitcoin is currently <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">trading</a> at $100,226, and its price is indicative of a bullish market as Bitcoin inches closer to its record value. The company has emphasized that these investments align with its long-term strategy to engage more deeply in the digital economy.</p>  
<h2 class="wp-block-heading" id="h-adopting-bitcoin-for-payments"><strong>Adopting Bitcoin for Payments</strong></h2>  
<p>Nano Labs began accepting <a href="https://cryptonewsland.com/chinas-nano-labs-embraces-bitcoin-payments-amid-evolving-crypto/" rel="noopener noreferrer nofollow">Bitcoin payments</a> for goods and services in November 2024. The initiative operates through the company's business account on Coinbase. By adopting Bitcoin for transactions, Nano Labs aims to meet rising demand for cryptocurrency payments while enhancing customer flexibility.&nbsp;&nbsp;</p>  
<h2 class="wp-block-heading" id="h-private-share-sale-and-financial-flexibility"><strong>Private Share Sale and Financial Flexibility</strong></h2>  
<p>The company recently raised $36.25 million through a private share sale. The company issued 5.6 million Class A ordinary shares priced at $6.46 per share. Payments were accepted in U.S. dollars, Bitcoin, and USDT. This move showcases its adaptability to diverse financial methods.&nbsp;&nbsp;</p>  
<p>Furthermore,&nbsp; Nano Labs plans to invest $50 million in Bitcoin over the next five years. This investment aligns with its broader strategy to integrate digital assets into its operations. This&nbsp; strengthens its financial position.&nbsp;</p>  
<h2 class="wp-block-heading" id="h-product-developments-amid-revenue-challenges-nbsp"><strong>Product Developments Amid Revenue Challenges&nbsp;</strong></h2>  
<p>Nano Labs launched its advanced V Series crypto mining products featuring the innovative Cuckoo 3.0 chips. This launch reflects the company’s focus on technological advancement in <a href="https://cryptonewsland.com/2024s-mining-titans-the-5-asic-machines-redefining-cryptocurrency-mining/" rel="noopener noreferrer nofollow">cryptocurrency mining</a>.&nbsp;&nbsp;</p>  
<p>Despite declining revenue from its iPollo V1 Series products, the company converted $8.5 million in interest-free loans into Class A shares. These efforts aim to solidify its capital structure.&nbsp;&nbsp;</p>  
<p>The announcements coincide with Bitcoin’s price surges, driven by expectations of Federal Reserve rate cuts. Nano Labs’ strategic moves underscore its growing role in the evolving digital economy.</p> 
<p>The post <a href="https://cryptonewsland.com/nano-labs-reveals-36m-bitcoin-holdings-amid-expanding-crypto-investments/" rel="noopener noreferrer nofollow">Nano Labs Reveals $36M Bitcoin Holdings Amid Expanding Crypto Investments</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Nano Labs Reveals $36M Bitcoin Holdings Amid Expanding Crypto Investments

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