Nano Labs Raises $500M in Debt Notes in $1B BNB Push

China-based Web 3.0 company Nano Labs has secured up to $500 million through a convertible notes deal with multiple investors. The funding kicks off a bigger plan to invest heavily in BNB, one of the top digital assets. This move follows a growing trend where crypto firms and Web 3 startups are increasing their holdings of digital currencies.

Nano Labs’ $500M Convertible Notes Agreement

On June 24, Nano Labs announced it would issue convertible promissory notes totaling $500 million. Several investors have already committed to buying these notes, which will not earn interest and mature 360 days after being issued. 

During that time, investors can convert their notes into the company’s Class A ordinary shares. The conversion price is reportedly set at $20 per share but may change as described in the agreement. 

If not converted, the full amount must be repaid at the end of the 360-day term. These notes are unsecured, meaning company assets do not back them. The agreement is still subject to standard closing conditions.

Also, the transaction will not be completed in full. Investors are advised to take this into account when considering this update.

Strategic Growth Through BNB Acquisition

This agreement is more than just a funding move. It is part of Nano Labs’ larger plan to strengthen its presence in Web 3.0. A key part of this strategy is a deep dive into BNB, a major blockchain asset.

Nano Labs, which began accepting Bitcoin payments in 2024, plans to buy up to $1 billion worth of BNB through convertible notes and private deals. The company eventually hopes to own 5% to 10% of BNB’s total circulating supply. 

The company shared that a full security and value assessment of BNB will be carried out in the early stages of this plan. With this agreement, Nano Labs is signaling strong confidence in blockchain infrastructure and digital assets. 

The company believes this move will support its long-term goals and growth in the Web 3.0 ecosystem. 

A Broader Industry Trend

Nano Labs’ plan to build a BNB treasury using convertible notes is not a one-off move. More companies across the crypto and tech space are starting to include digital assets like Bitcoin (BTC), Ethereum (ETH), and BNB in their business strategies.

Nasdaq-listed firm Strategy is leading this trend. The company raised funds using several methods, including selling shares and issuing convertible notes to buy Bitcoin. Today, Strategy holds more Bitcoin than almost any other public company. 

Its strong market performance has caught the attention of other companies. Firms like Metaplanet, MARA, and not limited to Semler Scientific have also started adding Bitcoin to their financial reserves.