Nano Labs has completed a private placement of approximately $5.9 million, raising funds in Bitcoin and USDT.

BlockBeats News, February 21, Nasdaq-listed cryptocurrency mining chip manufacturer Nano Labs announced that it has entered into subscription agreements with certain investors (hereinafter referred to as "Investors") to sell 913,714 shares of Class A common stock of the company through a private placement.

Subscription Price: $6.46 per share

Total Amount of Private Placement: Approximately $5.9 million

Payment Method: Bitcoin and USDT

Nature of the Transaction: The issuance of shares does not require registration under Section 5 of the Securities Act

Prior to this, the company had received investments from well-known institutions such as Fenbushi Capital, Golden Forest, and Longling Capital. Additionally, Nano Labs has recently increased its Bitcoin holdings. As of February 21, 2025, the company holds approximately 400 bitcoins, with a current market value of about $40 million. The average cost of purchasing bitcoins for the company's holdings (including transaction fees) is approximately $99,500 per BTC.