What's Going On With Nano Labs Stock Wednesday?

Nano Labs Ltd (NASDAQ:NA) is reshaping its capital strategy as it leans further into digital assets and shareholder returns amid a volatile year for the stock.

The stock gained on Wednesday after it said it is advancing its Web3-focused capital strategy by expanding its BNB reserve and launching a previously approved share buyback program.

The company completed another round of BNB (CRYPTO: BNB) purchases, lifting its total holdings to more than 130,000 BNB, valued at ~$112 million.

Also Read: Nano Labs Stock Jumps After Investing in Crypto-Focused CEA Industries and Boosting BNB Strategy

Nano Labs said the additions strengthen its long-term strategic reserve tied to the Binance ecosystem.

Share Buyback Program Kicks Off

Separately, Nano Labs confirmed it has begun executing a $25 million share repurchase program authorized earlier by its board.

The company said it will continue buying back shares as market conditions allow, while balancing capital allocation with the value of its BNB reserves.

Nano Labs stock has tanked over 66% year-to-date.

Pivot Toward Web3 Amid Core Chip Business

Nano Labs earns most of its revenue from its fabless chip design business, where it develops integrated circuits for high-throughput and high-performance computing, smart network interface cards, and vision applications.

Recently, however, the company has pivoted toward digital asset management. It built a sizable BNB reserve as it diversifies away from slowing mining-hardware sales.

Through this shift into Web3 infrastructure, Nano Labs aims to capture future earnings tied to crypto market cycles and the long-term growth of its strategic digital assets.

NA Price Action: Nano Labs shares were up 8.55% at $3.30 during premarket trading on Wednesday, according to Benzinga Pro data.

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