Nano Labs completes $5.9 million private placement financing, with funds raised in Bitcoin and USDT

according to a report by PR Newswire, Nano Labs (NASDAQ: NA) has signed a share subscription agreement with investors to privately issue 913,714 shares of Class A common stock at a price of $6.46 per share, raising approximately $5.9 million, with investors paying in Bitcoin and USDT. The company has previously received investments from institutions such as FENBUSHI, Golden Forest, and Longling Capital.

The announcement also disclosed that as of February 21, 2025, Nano Labs holds approximately 400 Bitcoins, with a current market value of about $40 million, and an average purchase cost of $99,500 per coin (including transaction fees). This private placement transaction is expected to be completed within 10 business days, subject to customary closing conditions.