Nano Labs, a technology company born as the maker of Bitcoin mining ASIC chips, lives a hentai that has been largely promoted by BNB, a cryptocurrency created by Exchange Binance. This is a specific turn in the context of less profitable main hardware units, and now managers are looking for better options.
In 2024, Nano Labs’ total revenue for sale of specialist chips in Mining Bitcoin did not exceed just $5.6 million. This provided 83% energy over previous models despite innovations like the Cuckoo 3.0 chips and FPU 3.0. Designed for less scale mining, it consumes less and has silent operation, The product did not produce the traction expected in the global market.
Meanwhile, the company, which was founded in Hangzhou in 2019 and listed on the stock market since 2022, spoke about its share capital of $139 million at the end of 2024. Additionally, the balance sheet had 4.5 million cash and nearly 27 million liabilities, limiting the operating margin.
In the following graph, you can see the income Nano Labs received only through Bitcoin Mining Chips Business.
All of the above were the incentives needed to stimulate strategic interest in cryptocurrencies. The idea was gaining greater weight in the first few months of the year, not when Nano Labs issued a $500 million note in June 2025 to fund a new phase. The accumulation of 400 Bitcoin Reserve (BTC) and 120,000 BNB totaled to US$160 million.
In addition to the increased exposure to Cryptoactive, Nano Labs announced that Bitcoin and BNB’s finance forces will become autonomous operations units. Within that framework, he also presented plans to work with Orbiter Finance to launch a Stablecoins platform called NBNB.IO, in support of the Hong Kong Dollar (HKD) and China’s Yuan Offshore (RMB). The launch is scheduled for the fourth quarter of 2025.
Ambition doesn’t end there. According to your strategic plan, Nano Labs aims to control 5% to 10% of BNB circulation supply. This goal means investments between USD 5,300 and USD 10.6 billion based on BNB’s market capitalization.
Growth trends
This Nano Labs strategy is part of a recent trend as it relies on the strategic preparation of digital assets. Technology or risk capital companies are already beginning to establish themselves as institutional actors within the BNB ecosystem. The group will also feature Windree Technologies, a signature in the biotech sector that announced its decision to open the BNB Treasury Department and fund purchases with debt, as reported by Cryptootics.
This dynamic has led to Binance founder Changpeng Zhao confirming that “BNB MicroStrategy” is being brewed and referring to the model adopted by the American company MicroStrategy, which has since 2020 integrated a reserve of more than 600,000 bitcoins.
Now, unlike its strategy, Nano Labs continues to combine hardware operations with cryptocurrency investments. Although we hold an ASIC product portfolio, His operational priorities have shifted to digital finance.
In its latest quarterly presentation, the company explained that its Web3 strategy includes developing Stablcoins’ technology infrastructure compatible with BTS and BNB chains integrated into an interoperability environment.
However, the risk is potential. Nano Labs has already burned more than $24 million in cash in 2024. Rely on the evolution of BTC and BNB prices to maintain the viability of the new roadmap.
Additionally, our commitment to Stablecoin Nbnb.io is also facing obstacles. The global market is already dominated by USDT and USDC, thanks to two regulated stub coins and widespread adoption. Positioning in that niche involves competition in an integrated environment where distinctions are important. Similarly, achieving a regulatory license in Hong Kong, operating in two different Fíat currencies, and maintaining effective parity with the assistance of bank reserves increases the technical and legal complexity of the project.
As analyst Myriam Alvarez sees it, Nano Labs’ ambitions are, although they are high, “probably unrealistic.”
“The intent to control a key part of the BNB ecosystem and launch competitive stability for USDT and USDC is a goal that requires resources the company does not currently have. To date, we have raised funding for these initiatives with the issuance of debt and actions, increasing risk,” the expert says.
And he adds that, for these reasons, Nano Labs is outlined as a “high risk” play More than traditional chip makers. “While there is a possibility of rewards, there is a high uncertainty, and as a result, we recommend that you maintain a neutral position at this time,” Alvarez said.
Preferred scale
Despite these challenges exposed by analysts, purchasing BNB has been an advantage up to now at least. Assets continue to be on an upward trend, they have recently reached their historic maximums. It reaches up to $860 and accumulates an annual increase of 86%.
Not to mention Bitcoin, which has accumulated sustained growth of 30% so far, as Cryptootics has reported, from $94,000 to $118,000 to $118,000 to $118,000 so far this year.
In general, the positive performance of both assets that make up Nano Labs Reserves supports the company’s yield. And more than that, they partially tested their strategies to maintain BNB and Bitcoin in the long term.
The latter is reflected in the company’s stock, up 726% in the 20 days since the announcement of BNB Corporate Reserve in early June. And although they revised it to USD 8.10 at the end of this report, Nano Labs shares rose 71.2% after three monthsas shown in the following graph:
Still, analyst Alvarez argues her alerts because she believes there is a potential for growth but is conditioned on a sustained assessment of digital assets and the success of their projects.
In any case, BNB transformed Nano Labs, escaping its original profile as a mining chip designer, and brought it to investments in digital assets with excellent capitalization and potential for revaluation, but did not abandon its origins.
Essentially, it is a clear evolution towards hybrid models focused on reserves and infrastructure development. What began as a modest operation of semiconductors redefines market identity; Today, it is trying to establish itself as a platform with global aspirationsand when BNB lives in one of its vastest cycles.
