1 month ago
China-based crypto mining spot decorator Nano Labs is present accepting Bitcoin arsenic outgo for its products done its concern relationship connected Coinbase, according to a Nov. 11 statement.
The steadfast said it adopted Bitcoin payments successful effect to expanding request for integer currency options successful the tech world. It added that the outgo flexibility is intended to payment clients and partners, particularly arsenic businesses worldwide clasp crypto for streamlined, unafraid cross-border transactions.
Nano Labs said the determination positions it favorably to pull a broader assemblage of tech-forward clients who prioritize flexible, integer outgo systems.
Nano Labs was founded successful 2019 and specializes successful fabless IC design. The steadfast is besides focused connected processing high-throughput computing (HTC) chips, high-performance computing (HPC) chips, astute web interface cards (NICs), and different precocious computing solutions.
Stock performance
In July 2022, Nano Labs raised $50 cardinal to spell nationalist successful the US. However, the banal has performed poorly since the IPO, falling astir 95% since it began trading that year.
Earlier this year, Nasdaq reportedly notified Nano Labs that its banal had fallen beneath the required minimum marketplace worth of publically held shares (MVPHS) of $15 cardinal implicit 30 consecutive trading days.
The institution rectified the contented and met Nasdaq’s request by maintaining an MVPHS of $15 cardinal for 10 days by Oct. 9.
Nano Labs’ determination to judge Bitcoin whitethorn assistance counterbalance its caller banal performance. This year, Bitcoin-related stocks of respective micro-cap companies similar Semler Scientific and Metaplanet person rapidly accrued pursuing their determination to follow the apical integer asset.
China’s stance
As a China-based company, Nano Labs’ clasp of Bitcoin whitethorn awesome subtle shifts successful China’s traditionally restrictive crypto policies.
Over the past years, China has maintained a stringent regulatory strategy prohibiting institutions from engaging successful crypto transactions and mining activities.
Despite these measures, the Asian state remains a large unit successful the planetary crypto landscape, controlling implicit fractional of the Bitcoin network’s hashrate.
Meanwhile, caller calls for a argumentation reassessment from figures similar erstwhile Deputy Finance Minister Zhu Guangyao hint that China’s attack to integer currencies whitethorn displacement successful alignment with planetary trends favoring wider crypto adoption.
The station China-based Nano Labs turns to Bitcoin payments amid imaginable argumentation displacement successful the country appeared archetypal connected CryptoSlate.
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