PANews reported on December 2 that according to PR Newswire, Nano Labs (Nasdaq: NA), a crypto mining chip design company, announced its plan to purchase and hold $50 million worth of Bitcoin over the next five years. Nano Labs said that this strategic decision highlights the company's confidence in BTC as a long-term value store and a basic asset in the rapidly developing Web 3.0 ecosystem.

Earlier in November, Nano Labs announced that it would accept Bitcoin payments.