AVAX One

What AVAX One does

AVAX One (NASDAQ: AVX, formerly AgriFORCE Growing Systems Ltd.) is a Vancouver-based publicly-traded company that operates as a digital asset treasury focused on the Avalanche blockchain, holding AVAX tokens and generating revenue through staking, liquidity provisioning, and validator node delegation fees. The company also operates Bitcoin mining facilities in Alberta and Ohio powered by flared gas, and is executing a strategic pivot toward AI and high-performance computing (HPC) infrastructure, including a planned 10-megawatt natural gas-powered AI HPC data center near Calgary in partnership with BlueFlare Energy Solutions, targeted for Q1 2027 completion at a $30-35 million capex. Originally founded in 2017/2019 as an agtech business, the company underwent multiple strategic pivots — acquiring Radical Clean Solutions in August 2024 for hydroxyl radical disinfection technology, launching Bitcoin mining in December 2024, completing a $300 million PIPE financing led by Hivemind Capital in November 2025, rebranding to AVAX One, and launching its first public Avalanche validator node in January 2026.

The company generates revenue across four streams: Avalanche validator delegation fees (usage-based), digital asset treasury management (transaction fees), Bitcoin mining (transaction fees), and planned AI/HPC compute services (usage-based). Customer segments are primarily retail and institutional cryptocurrency investors seeking Avalanche ecosystem exposure, with a developing pipeline of enterprise AI/HPC compute clients. Distribution is enabled through its NASDAQ listing and supported by strategic advisor Anthony Scaramucci (founder of SkyBridge Capital). Key institutional investors include Hivemind Capital (lead of $300M PIPE), Abu Dhabi-based M2 Capital ($21M), and a broad syndicate that participated in a separate $214.4M raise in October 2025.

FY2025 revenue was $2.3 million against $33 million in net losses, indicating significant operating cost intensity relative to current topline. The company has raised approximately $540 million in equity and PIPE financing cumulatively across 2025-2026, with a $40 million share repurchase program announced after shares fell approximately 70% from peak. The headcount of 11-50 employees and ~$50 million market capitalization as of April 2026 reflect a small, capital-intensive operating footprint relative to balance sheet scale.

Name

AVAX One

Legal name

AgriFORCE Growing Systems Ltd.

Website

https://agriforcegs.com

Company type

Public

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Short description

AVAX One (NASDAQ: AVX) is a Vancouver-based digital asset treasury company that holds AVAX tokens, runs an Avalanche validator node, operates flared-gas Bitcoin mining in Alberta and Ohio, and is building AI HPC data center capacity near Calgary.

Ownership category

akta.pro rank

Product category

Digital Asset Treasury

NAICS

Other Financial Vehicles (52599), Open-End Investment Funds (525910)

SIC

Finance Services (6199), Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Treasury Management & Corporate Crypto Yield Programs (FSADAHAL)

Keywords

• Digital asset treasury
• Blockchain validator services
• Cryptocurrency mining
• AI compute infrastructure
• High-performance computing

Headquarters

HQ city

Vancouver

HQ country

Canada

HQ region

North America

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Technology or R&D, Personnel, Marketing or Sales

Revenue model

1. Avalanche Validator Delegation Fees: Revenue generated through operating a public validator node on the Avalanche blockchain that allows public delegation, earning fees from delegators who stake AVAX through the node.
2. Digital Asset Treasury Management: Holding and managing Avalanche native tokens (AVAX) as part of digital asset treasury strategy, participating in staking and liquidity activities on-chain.
3. Bitcoin Mining: Cryptocurrency mining operations launched December 2024 using flared-gas-powered facilities in Alberta and Ohio.
4. AI and HPC Compute Services: Planned revenue from AI inferencing workloads and high-performance computing capacity at data center facilities, targeting enterprise clients requiring accelerated compute.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels3 records

Core offering

AVAX One operates as a publicly-traded digital asset treasury company that runs a public Avalanche blockchain validator node enabling institutional-grade delegation and earning delegation fees, manages Bitcoin mining operations powered by flared gas, accumulates and stakes AVAX tokens as part of its treasury strategy, and is developing AI and high-performance computing data center infrastructure. The company holds hydroxyl radical disinfection technology through its subsidiary Radical Clean Solutions Limited for healthcare and industrial applications.

Product overview

AVAX One is a digital asset treasury company (formerly AgriFORCE Growing Systems Ltd.) that operates a diversified portfolio of blockchain and infrastructure services. The company operates Bitcoin mining facilities, runs an Avalanche validator node for delegation revenue, manages a digital asset treasury strategy focused on AVAX token accumulation, and is pivoting toward AI/high-performance computing data center infrastructure. The previously acquired Radical Clean Solutions brand provides hydroxyl radical disinfection technology for healthcare and industrial markets.

Differentiator

Problem solved

Functional benefit

Products and services

• Avalanche Validator Node Public validator node on the Avalanche blockchain that enables public delegation and generates revenue through delegation fees using institutional-grade cloud architecture for high uptime and performance.
• Bitcoin Mining Operations Cryptocurrency mining operations launched in December 2024, utilizing flared-gas-powered energy in Alberta and Ohio facilities for cost-efficient Bitcoin mining.
• Digital Asset Treasury Strategy centered on accumulating and holding Avalanche blockchain token (AVAX), participating in staking and liquidity-providing on-chain activities as part of a publicly-traded digital asset treasury.
• Radical Clean Solutions (RCS) Hydroxyl Radical Technology Hydroxyl radical technology for disinfection, serving healthcare and industrial applications beyond agriculture, acquired through wholly-owned subsidiary Radical Clean Solutions Limited.
• AI High-Performance Computing Data Center AI and HPC compute capacity infrastructure under development, including a planned 10-megawatt natural gas-powered facility near Calgary in partnership with BlueFlare Energy Solutions and Bantry Data site acquisition in Alberta, targeting enterprise clients requiring accelerated compute for AI inferencing workloads.

Quantifiable outcome

• Shares fell approximately 70% from peak following strategic pivot announcement
• +1 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Two partnerships are on record, tiered core.

• BlueFlare Energy SolutionscoreStrategic or Co-development Partner · 22 April 2026Alberta-based BlueFlare Energy Solutions partnered with Avax One to develop a 10-megawatt AI high-performance compute data centre within 80-kilometre radius of Calgary. Expected to cost $30-35 million with completion targeted for Q1 2027.
• Anthony ScaramuccicoreStrategic or Co-development Partner · 7 November 2025Anthony Scaramucci, founder of SkyBridge Capital, serves as strategic advisor to AgriFORCE Growing Systems Ltd. and AlphaTON Capital Corp. He is bullish on Bitcoin and Layer-1 tokens including Ethereum and Solana.

Scale indicators12 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Bit Digital: Public company that has pivoted from mining to a crypto treasury and AI cloud services model. Closely comparable in business model evolution and small-cap treasury positioning.
• Marathon Digital Holdings: One of the largest publicly-traded Bitcoin miners, with a treasury strategy that combines BTC accumulation with mining operations. Comparable to AVAX One's digital asset treasury and mining dual approach.
• Cipher Mining: Public Bitcoin miner with energy-advantaged sites and a stated optionality on HPC/AI hosting. Comparable to AVAX One's effort to combine BTC mining with energy-advantaged AI compute.
• CleanSpark: Public Bitcoin miner focused on energy-efficient operations and, increasingly, HPC. Comparable to AVAX One on the mining side and on the broader narrative of monetizing power assets.
• Hut 8: Public Bitcoin miner that has aggressively pivoted into AI HPC data center hosting using its energy infrastructure. Highly comparable to AVAX One's combined BTC mining + AI/HPC pivot strategy backed by energy-advantaged sites.
• Bitfarms: Public Bitcoin miner operating in North America with energy-advantaged sites. Comparable on mining operations and on the strategic conversation of using power infrastructure for AI workloads.
• Core Scientific: Emerged from bankruptcy as a crypto mining operator now pivoting into AI HPC hosting. Closely mirrors AVAX One's hybrid mining-plus-AI compute model with energy-advantaged infrastructure.
• MicroStrategy: The original and largest publicly-traded corporate digital asset treasury, holding bitcoin on its balance sheet. Directly comparable to AVAX One's treasury model, with AVAX One effectively positioning as the 'MicroStrategy of Avalanche' rather than Bitcoin.
• Riot Platforms: Large-cap publicly-traded Bitcoin miner with substantial energy infrastructure and growing diversification into HPC. Comparable to AVAX One's flared-gas-powered mining operations and AI compute ambitions.

Broad incumbents

• Coinbase Global: Largest publicly-traded U.S. crypto exchange and custodian. Not a direct treasury peer, but the dominant incumbent in the broader crypto financial services ecosystem in which AVAX One operates its validator node and treasury.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights6 records

Customer concentration

• Xx.com/agriforcegs

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

Funding overview

Funding rounds4 records

Investors20 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about AVAX One