HONG
KONG, Dec. 2, 2024 /PRNewswire/ -- Nano Labs Ltd
(Nasdaq: NA) ("we," the "Company" or "Nano
Labs"), a leading fabless integrated circuit design company
and product solution provider in China, today announced its plan to purchase
and hold $50 million worth of
Bitcoin ("BTC") over the next five years. This
strategic decision underscores the Company's confidence in BTC as a
long-term store of value and a 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, including its B series for
BTC mining and V series for ETC ("ETH") mining. The Company views
BTC as an increasingly pivotal role in the digital asset ecosystem,
driven by recent market trends, favorable policy shifts, and
growing institutional adoption.
By incorporating BTC into its strategic asset portfolio,
Nano Labs aims to strengthen its
market position and contribute to the broader adoption and growth
of the digital economy.
The Company cautions investors that the purchase plan may be
affected by various factors, including but not limited to: market
conditions, regulatory changes, the Company's financial position,
and other business considerations. The Company is not obligated to
execute 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 solution provider in China. Nano
Labs is committed to the development of high throughput
computing ("HTC") chips, high performance computing ("HPC") chips,
distributed computing and storage solutions, smart network
interface cards ("NICs") vision computing chips and distributed
rendering. Nano Labs has built a
comprehensive flow processing unit ("FPU") architecture which
offers solution that integrates the features of both HTC and HPC.
Nano Lab's Cuckoo series are one of
the first near-memory HTC chips available in the market*. For more
information, please visit the Company's website at: 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 as defined in the U.S. Private Securities
Litigation Reform Act of 1995. These forward-looking statements
include, without limitation, the Company's plan to appeal the
Staff's determination, which can be identified by terminology such
as "may," "will," "expect," "anticipate," "aim," "estimate,"
"intend," "plan," "believe," "potential," "continue," "is/are
likely to" or other similar expressions. Such statements are based
upon management's current expectations and current market and
operating conditions, and relate to events that involve known or
unknown risks, uncertainties and other factors, all of which are
difficult to predict and many of which are beyond the Company's
control, which may cause the Company's actual results, performance
or achievements to differ materially from those in the
forward-looking statements. Further information regarding these and
other risks, uncertainties or factors is included in the Company's
filings with the Securities and Exchange Commission. The Company
does not undertake any obligation to update any forward-looking
statement as a result of new information, future events or
otherwise, except as required under law.
For investor inquiries, please contact:
Nano Labs Ltd
ir@nano.cn
Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com
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SOURCE Nano Labs Ltd