Nano Labs (ADR)
Designs computing chips for crypto mining and operates a BNB-focused crypto treasury.
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Profile
Develops high-throughput and high-performance computing chips, primarily for cryptocurrency mining, and iPollo Claw hardware for the OpenClaw AI Agent Ecosystem. Operations are conducted through China and Hong Kong subsidiaries, while the Cayman holding company has no material operations.
High-throughput and high-performance computing chips are the core products, chiefly designed for Bitcoin, Ethereum Classic and Grin mining. iPollo Claw is dedicated hardware for the OpenClaw AI Agent Ecosystem.
Operations are carried out mainly through China and Hong Kong subsidiaries, with the Cayman holding company itself having no material operations. Demand and pricing for mining products are affected by expected mining returns and cryptocurrency prices.
A cryptocurrency-treasury business was later added, with BNB adopted as the primary reserve asset. The business therefore combines mining-oriented chip products with digital-asset treasury activity.
Company facts
Key statistics
Year to date −31.4% · Average volume (30d) 468.2K
Analysts
No analyst consensus on record.
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 15, 2025Q2 FY25 | — | −$0.03 | — | — | $577.6K | — | +25.62% |
| Sep 18, 2024Q2 FY24 | — | −$0.06 | — | — | $1.7M | — | +1.71% |
| Aug 21, 2024Q2 FY24 | — | −$0.06 | — | — | $1.7M | — | +2.06% |
| Mar 18, 2024Q4 FY23 | — | −$0.68 | — | — | $1.8M | — | −1.13% |
Financial highlights
| 12 quarters | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | |
|---|---|---|---|---|---|---|---|
| Revenue | $1.2M | $1.2M | $616.2K | $616.2K | $1.4M | $4.02B | |
| Gross profit | $1.7M | $1.7M | −$796.7K | −$796.7K | $264.5K | −$5.92B | |
| Operating income | −$3.0M | −$3.0M | −$2.8M | −$2.8M | $8.1M | $10.62B | |
| Net income | −$4.2M | −$4.2M | −$524.8K | −$524.8K | $10.6M | $20.16B | |
| Diluted EPS | −$0.45 | −$0.45 | −$0.03 | −$0.03 | $0.46 | $1.01 | |
| Gross margin | 141.8% | 141.8% | -129.3% | -129.3% | 19.0% | -147.3% | |
| Operating margin | -251.1% | -251.1% | -459.2% | -459.2% | 584.4% | 264.4% |
Fiscal years (4-quarter sums)FY21 $5.9M · FY22 $146.3M · FY23 $11.7M · FY24 $6.0M · FY25 $4.02B
Revenue by product · FY25
Revenue by geography · FY25
Balance sheet, Dec 31, 2025Cash & short-term investments $56.3M · Total debt $35.1M · Total assets $166.6M · Shareholders' equity $111.3M
Dividends
No dividends on record.
Ownership
Shares outstanding 67.33M · Float 36.01M · 53.5% free float
Insiders — filings are in the shares behind the receipt.
This listing is a depositary receipt and the Form 4 positions here are filed in the shares behind it, a different unit from the share count and in a ratio the filings never state, so no insider percentage is shown.
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Jianping Kong | 5.01M | 21.20% | 13D | Nov 26, 2025 |
| CVI Investments, Inc. | 1.81M | 8.10% | 13G | Nov 7, 2025 |
| FENBUSHI Inc | 1.58M | 9.80% | 13G | Jan 2, 2025 |
| Citadel Advisors LLC | 1.30M | 5.90% | 13G | Nov 14, 2025 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Apr 28, 2026 | Nan Hu | director | −4,631 | $2.01 |
| Apr 27, 2026 | Nan Hu | director | −1,000 | $2.68 |
| Apr 20, 2026 | Nan Hu | director | −2,692 | $2.70 |
| Apr 17, 2026 | Nan Hu | director | −1,623 | $2.86 |
| Apr 16, 2026 | Nan Hu | director | −2,699 | $3.00 |
Peers
- Canaan (ADR)
ASIC mining-chip designer and Avalon mining-hardware supplier
- Bitdeer
Bitcoin-mining infrastructure provider with SEALMINER ASIC rigs
- Intchains Group (ADR)
Altcoin mining-machine maker with integrated proprietary ASIC chips
- AMD
GPU and high-performance-computing silicon alternative
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Nano Labs (ADR) | $2.14 | −4.89% | $149.5M | 0.0 | — | 0.0 | −66.1% |
| Canaan (ADR) | $0.3877 | +0.73% | $178.5M | — | — | 0.4 | +11,243,048.8% |
| Bitdeer | $10.32 | +0.10% | $2.41B | — | — | 3.0 | +47.1% |
| Intchains Group (ADR) | $1.03 | 0.00% | $31.1M | — | 7.0 | 2.1 | −72.8% |
| AMD | $466.05 | +0.10% | $759.17B | 119.4 | 41.6 | 18.4 | +50.1% |
| Median | 119.4 | 24.3 | 2.5 | +48.6% |