HONG KONG – Chinese Web3 infrastructure firm Nano Labs Ltd (NASDAQ: NA) has entered into a strategic equity agreement with CEA Industries Inc. (NASDAQ: VAPE), marking a bold step in its ongoing push to strengthen crypto reserve holdings, particularly in Binance’s BNB ecosystem.
As per BittMint findings, Nano Labs has subscribed to 495,050 shares of CEA Industries’ Class A common stock at $10.10 per share, with an equal number of warrants priced at $15.15. If fully exercised, the company could hold up to 990,100 shares, effectively doubling its stake. The move is part of CEA Industries’ broader $500 million Private Investment in Public Equity (PIPE) strategy.
The financing will primarily support the acquisition of BNB cryptocurrency, with residual capital allocated to general corporate needs, including working capital and transaction fees. The agreement remains subject to customary closing conditions, with no guarantee of completion.
Crypto Reserves at the Core of Nano Labs’ Strategy
Nano Labs, with a market cap of $120 million and gross margins of 55%, continues to prioritize long-term digital asset reserves across leading blockchain ecosystems. As per BittMint resources, the firm now holds approximately 128,000 BNB tokens, valued at over $108 million at current market prices.
The latest acquisition of 8,000 BNB at an average price of $801 per token raised the company’s average holding cost to $713, signaling a calculated move despite current market volatility.
Notably, InvestingPro data indicates that Nano Labs is experiencing negative free cash flow of $24 million over the last twelve months. However, the firm appears undeterred, positioning digital assets as a core treasury component.
CEA Industries Repositions Toward BNB-Backed Treasury
Originally focused on the Canadian vape industry, CEA Industries is undergoing a strategic pivot toward crypto finance. Post PIPE closing, the company intends to implement a BNB Treasury strategy, offering equity investors indirect exposure to the BNB Chain ecosystem.
This shift signals a growing trend among smaller public firms aligning themselves with blockchain-backed treasury management strategies as part of their capital structure.
Strategic Partnerships and Leadership Restructuring
In parallel to its equity activity, Nano Labs has deepened its crypto footprint through a partnership with Orbiter Finance to launch a compliant stablecoin distribution and exchange platform, anticipated in Q4 2025. The platform will support stablecoins pegged to USD, HKD, and offshore RMB, with the goal of facilitating cross-border crypto payments and reserves diversification.
Leadership changes have also reinforced Nano Labs’ strategic pivot. The firm has appointed Dr. Kailong Cai as CEO of Nano bit HK Limited, its Hong Kong-based subsidiary. Dr. Cai, formerly a partner at Jasper Crypto Fund, will lead the subsidiary’s global operations and product strategy. Can Yang, a seasoned finance executive, has been named Senior Vice President, tasked with overseeing digital asset reserve initiatives and supporting global expansion.