Nano Labs Embraces Bitcoin Payments, Shares Gain 2.8%

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Chinese chipmaker Nano Labs, listed on the Nasdaq, announced it will now accept Bitcoin as payment through Coinbase, sparking a 2.81% uptick in its stock. This move, aimed at embracing digital financial technology, reflects rising demand for crypto transactions in tech sectors. Nano Labs sees Bitcoin adoption as a way to offer “greater payment flexibility” amid growing crypto adoption globally. Despite the recent stock boost, Nano Labs remains far from its peak valuation in July 2022, highlighting the volatility of its market position amid evolving attitudes towards crypto in China.