Nano Labs announces $25 million share repurchase program

HONG KONG - Nano Labs Ltd (NASDAQ:NA), a Web 3.0 infrastructure and product solution provider with a current market capitalization of $130 million, announced Wednesday that its board of directors has authorized a share repurchase program of up to $25 million worth of its shares over the next 12 months. According to InvestingPro data, the company’s stock has shown significant volatility, falling 37% year-to-date while maintaining a strong cash position relative to its debt obligations.

The company said the repurchases may be conducted through open market transactions, privately negotiated transactions, block trades or a combination of these methods, in compliance with securities laws and the company’s insider trading policy.

According to the press release, the timing and number of shares to be repurchased will depend on factors including price, trading volume, market conditions, working capital requirements and general business conditions.

The board will periodically review the program and may adjust its terms or size. Nano Labs plans to fund the repurchases using its existing cash balance and proceeds from liquidation of crypto assets.

Nano Labs describes itself as a provider of high throughput computing (HTC) chips and high-performance computing (HPC) chips. The company has positioned itself in the crypto assets space, adopting BNB as its primary reserve asset while also maintaining reserves in other cryptocurrencies including BTC.

The announcement comes after the company filed its Annual Report on Form 20-F for the fiscal year ended December 31, 2024, with the SEC on April 11, 2025.

In other recent news, Nano Labs Ltd has announced several significant developments. The company has entered into an At The Market Offering Agreement with Maxim Group LLC, aiming to sell Class A Ordinary Shares for up to $45 million. The proceeds will be directed towards their crypto asset reserve strategy, research and development, and general corporate purposes. Additionally, Nano Labs has signed a Memorandum of Understanding with TradeUP Securities to develop tokenized U.S. equities, leveraging blockchain infrastructure and smart contract deployment.

In another strategic move, Nano Labs has made an equity investment in CEA Industries Inc., acquiring shares and warrants that could potentially increase their stake. Furthermore, the company has been approved to transfer from the Nasdaq Capital Market to the Nasdaq Global Market, effective September 19, 2025. These recent developments highlight Nano Labs’ ongoing efforts to expand its market presence and technological capabilities.

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