HONG KONG, Dec. 2, 2024 /PRNewswire/ — Nano Labs Ltd (Nasdaq: NA) (the “Company” or “We” or “Nano Labs”), a leading fabless integrated circuit design company and product solutions provider in China, Today, we announced plans to purchase and hold $50 million worth of Bitcoin (“BTC”) over the next five years. This strategic decision confirms our confidence in BTC as a long-term store of value and 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, such as the B series for BTC mining and the V series for ETC (“ETH”) mining. I've been doing it. We believe that recent market trends, favorable policy shifts, and increased institutional adoption will see BTC play an increasingly important role in the digital asset ecosystem.
By incorporating BTC into its strategic asset portfolio, Nano Labs aims to strengthen its market position and contribute to the widespread adoption and growth of the digital economy.
The Company cautions investors that its purchase plans may be affected by a variety of factors, including, but not limited to, market conditions, regulatory changes, the Company's financial condition and other business considerations. Masu. We are under no obligation to implement this purchase plan and may modify, suspend, or abandon it at any time without notice.
About Nano Labs Ltd
Nano Labs Ltd is a leading fabless integrated circuit (“IC”) design company and product solutions provider in China. Nano Labs manufactures high throughput computing (“HTC”) chips, high performance computing (“HPC”) chips, distributed computing and storage solutions, smart network interface cards (“NIC”) vision computing chips, and distributed rendering. We are working on the development of. Nano Labs has built a comprehensive flow processing unit (“FPU”) architecture that provides a solution that integrates both HTC and HPC capabilities. Nano Lab's Cuckoo series is one of the first near-memory HTC chips available on the market*. For more information, please visit our website (ir.nano.cn).
*According to an industry report prepared by Frost & Sullivan.
Forward-looking statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to: A company's plan to appeal an employee's decision. This can be identified by terms such as “may,” “will,” “expect,” “anticipate,” “aim,” and “estimate.” “intends,” “plans,” “believes,” “may,” “continues,” “likely” or other similar expressions. Such statements are based on management's current expectations, current market and operating conditions, and involve events that involve known and unknown risks, uncertainties and other factors, all of which are difficult to predict and many are beyond our control. Our actual results, performance or achievements may cause our actual results, performance or achievements to differ materially from those contained in any forward-looking statements. Further information regarding these and other risks, uncertainties or factors is contained in the Company's filings with the Securities and Exchange Commission. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
For inquiries regarding investors, please contact us below.
Nanolab Co., Ltd.
ir@nano.cn
Ascent Investor Relations LLC
Tina Hsiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com
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