Nano Labs Ltd (Nasdaq: NA), a leading fabless integrated circuit design and product solution provider in China, has just announced a plan to purchase and hold BTC (BTC) worth $50 million over the next 5 years. This strategic decision underscores the company's confidence in BTC as a long-term store of value and a critical foundation in the rapidly growing Web 3.0 ecosystem.
As an active player in the Web 3.0 space, Nano Labs continues to expand its footprint with innovative products, including the B-series for BTC mining and the V-series for ETC (ETC) mining. The company believes that BTC is playing an increasingly pivotal role in the digital asset ecosystem, driven by recent market trends, favorable policies, and increased adoption by major institutions.
By incorporating BTC into its strategic asset portfolio, Nano Labs aims to strengthen its market position and contribute to the widespread development and adoption of the digital economy.
However, the company also cautions that the BTC purchase plan may be affected by various factors, including but not limited to: market conditions, regulatory changes, the company's financial situation, and other business considerations. Nano Labs is not obligated to execute this plan and may change, suspend, or cancel it at any time without prior notice.
This move comes shortly after SOS Ltd., a U.S.-listed Chinese company, announced that its board of directors had approved a plan to invest up to $50 million in BTC.
