Nano Labs, a China-based crypto mining chip designer, saw its shares rise slightly after announcing it will accept Bitcoin as payment through Coinbase. This move aligns with its strategy to embrace financial technology amid growing demand for digital transactions. Despite the 2.81% share increase, the company's stock remains down over 60% from its peak last month. Nano Labs joins a growing list of companies like Microsoft and McDonald's accepting crypto payments. Meanwhile, China's stance on crypto is softening, with recent legal recognitions of Bitcoin's value and regulatory approvals in Hong Kong.
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