TechFlow news, on November 12, according to Cointelegraph, cryptocurrency mining chip design company Nano Labs announced it will accept Bitcoin payments through its Coinbase business account. Following the announcement, its Nasdaq share price rose slightly by 2.81% to $3.29. The Hangzhou-based company stated the move aims to "embrace the latest financial technology" in response to the growing demand for digital currency transactions within the tech industry.
Notably, despite the minor rebound in stock price, the company's shares have still fallen over 60% in the past month, dropping sharply from a high of $8.33, and remain far below its all-time peak of $96.20 reached at its Nasdaq listing in July 2022.
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