PANews reported on October 15th that, according to GlobeNewswire, the board of directors of Nano Labs Ltd. (NASDAQ: NA) approved a share repurchase program of up to $25 million over 12 months. The company may repurchase shares through the open market, private placements, and blockchain transactions. The specific amount and timing will depend on price, trading volume, market conditions, and working capital needs. Funding will come from existing cash and proceeds from the liquidation of crypto assets. The board of directors will review and adjust the size and terms regularly. The company describes itself as a Web3 infrastructure provider, holding BNB and BTC as reserve assets, and is developing its HTC/HPC chip and FPU architecture business.