Nano Labs Ltd announces $50M BTC purchase plan, showing confidence in Bitcoin long-term

From Investing.com

December 2, 2024 08:01:07 AM:

Nano Labs Ltd (Nasdaq: NA) plans to buy $50 million worth of Bitcoin over the next five years, showing confidence in BTC as a long-term store of value in the Web 3.0 ecosystem. The company offers innovative products for BTC and ETH mining, viewing BTC as pivotal in the digital asset ecosystem amidst growing institutional adoption.

Nano Labs aims to enhance its market position and support digital economy growth by adding BTC to its strategic asset portfolio. The purchase plan’s execution is subject to various factors like market conditions, regulations, financial position, and business considerations. The company may modify, suspend, or abandon the plan at any time.

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