olivLaw · US equity research
AVAX One Technology Ltd. AVX
Finance Services · SIC 6199 · Vertical: Finance Services (SIC 6199)
AVAX One Technology Ltd. (AVX) combines a digital asset treasury built around the AVAX token, Bitcoin mining and, from 2026, development of AI-capable data centers. The company closed a private placement in November 2025 for a purchase price of 219.1 million USD, giving it the financial base for its current strategy, and in the third quarter of 2026 it significantly reduced its convertible debt.
At the close of 04 Nov 2026, AVAX One Technology Ltd. (AVX) stock was 4.72 USD (+4.89% on the day), with market capitalisation 34.9 m USD, beta 1.70, 52-week range 2.90–33.60 USD. Latest reported quarter (Q2 2026): revenue of 2.8 m USD (+523.2% YoY), net income of -35.1 m USD, diluted EPS -4.41 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 50.9
- neutral
- Bollinger (20, 2)
- 3.92 – 5.23
- in the upper half of the band · %B 0.61 · band width 28.7%
- SMA 50 / 200
- 4.59 / 6.21
- mixed trend
- MACD (12, 26, 9)
- -0.09 / -0.09
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −25.3% | −2.0% | −23.3 pp | — |
| 3 months | +50.3% | −2.2% | +52.5 pp | — |
| 6 months | −28.5% | +4.3% | −32.8 pp | — |
| Year to date | −74.0% | +10.6% | −84.5 pp | — |
| 1 year | −83.9% | +10.5% | −94.4 pp | −47.3% |
| 3 years | −100.0% | +73.7% | −173.6 pp | −62.8% |
| 5 years | −100.0% | +61.7% | −161.7 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0 ≈ | -14.7 k | 273.0 k | 452.0 k | 525.9 k | 1.1 m | 2.5 m | 2.8 m |
| Cost of revenue | 461 ≈ | 54.9 k | 265.4 k | — | — | — | — | — |
| Gross profit | -461 ≈ | -28.4 k | 79.0 k | — | — | — | — | — |
| Research & development | 54.0 k | 17.2 k | 233.2 k | — | — | — | — | — |
| SG&A | — | — | 1.3 m | 1.2 m | — | — | 2.3 m | 2.2 m |
| Operating income | -5.5 m | -2.1 m | -1.8 m | -1.4 m | -2.6 m | -15.7 m | -44.6 m | -33.4 m |
| Depreciation & amortisation | 163.5 k | 156.8 k | 260.0 k | 334.0 k | 311.1 k | 329.9 k | 253.0 k | 284.0 k |
| Net income | -5.8 m | -2.9 m | -145.0 k | -8.1 m | -8.4 m | -16.6 m | -46.4 m | -35.1 m |
| Diluted EPS | -57.19 | -14.66 ≈ | -10.57 | -335.88 | -5.55 | -0.26 ≈ | -0.48 | -4.41 |
| Operating cash flow | -1.2 m ≈ | -1.8 m | -2.2 m | -884.0 k ≈ | -2.4 m ≈ | -9.0 m | -1.3 m | -3.7 m ≈ |
| Capex | — | — | — | — | — | — | 2.5 m | 0 ≈ |
| Share repurchases | — | — | — | — | — | — | 3.0 m | 806.0 k ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2020 | 2021 | 2022 | 2023 | ⚠ 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | unavailable | unavailable | unavailable | 16.3 k | 26.6 k | 2.3 m |
| Revenue YoY | unavailable | unavailable | unavailable | unavailable | — | +8,709.3% |
| Net income | -3.2 m | -6.6 m | -12.9 m | -11.7 m | -16.3 m | -33.2 m |
| Net income YoY | unavailable | unavailable | unavailable | unavailable | — | unavailable |
| Diluted EPS | unavailable | -0.66 | -35.60 | -1,011.05 | -199.51 | -2.15 |
| Diluted EPS YoY | unavailable | unavailable | unavailable | unavailable | — | unavailable |
| net % | unavailable | unavailable | unavailable | -72,066.9% | -61,248.0% | -1,418.1% |
| Free cash flow | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
The series breaks before 2024: earlier years come from the original reports of the issuer of that time, later years from a subsequent filing that restated the perimeter (a separation, discontinued operations). The year-on-year change across the break is not shown.
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 22.1 m USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 187.0 m USD
- Total assets
- 195.0 m USD
- Debt / equity
- unavailable
- Current ratio
- 4.19x
- ROE
- -34.4%
- ROA
- -32.3%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | 16.3 k | 26.6 k | 2.3 m | SEC (XBRL)· 31 Mar 2026verified |
| Cost of revenue | — | — | — | 13.6 k | 89.1 k | — | SEC (XBRL)· 07 Apr 2025verified |
| Gross profit | — | — | — | 2.7 k | -21.2 k | — | SEC (XBRL)· 07 Apr 2025verified |
| Research & development | 123.9 k | 474.3 k | 615.7 k | 6.6 k | 75.3 k | 18.8 k | SEC (XBRL)· 31 Mar 2026verified |
| Operating income | -3.3 m | -6.9 m | -13.7 m | -11.2 m | -10.1 m | -21.7 m | SEC (XBRL)· 31 Mar 2026verified |
| Depreciation & amortisation | 9.1 k | 11.8 k | 22.4 k | 679.8 k | 650.2 k | 1.2 m | SEC (XBRL)· 31 Mar 2026verified |
| EBITDA | -3.3 m ≈ | -6.9 m ≈ | -13.6 m ≈ | -10.5 m ≈ | -9.4 m ≈ | -20.5 m ≈ | SEC (XBRL)· 31 Mar 2026derived |
| Pre-tax income | -3.2 m | -6.6 m | -12.9 m | -11.7 m | -16.3 m | -33.2 m | SEC (XBRL)· 31 Mar 2026verified |
| Net income | -3.2 m | -6.6 m | -12.9 m | -11.7 m | -16.3 m | -33.2 m | SEC (XBRL)· 31 Mar 2026verified |
| Diluted EPS | — | -0.66 | -35.60 | -1,011.05 | -199.51 | -2.15 | SEC (XBRL)· 31 Mar 2026verified |
| Weighted average diluted shares | — | — | 361.6 k | 11.6 k | 91.0 k | 16.6 m | SEC (XBRL)· 31 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 653.4 k | 7.8 m | 2.3 m | 3.9 m | 489.9 k | 22.1 m | SEC (XBRL)· 15 May 2026verified |
| Receivables | 9.0 k | — | — | — | — | — | SEC (XBRL)· 03 Aug 2021verified |
| Inventories | — | — | — | 38.9 k | 6.0 k | — | SEC (XBRL)· 14 Aug 2025verified |
| Current assets | 875.4 k | 8.1 m | 2.9 m | 4.2 m | 1.3 m | 33.5 m | SEC (XBRL)· 15 May 2026verified |
| Property, plant & equipment, net | 28.4 k | 41.0 k | 121.7 k | 11.8 k | 808.9 k | 4.2 m | SEC (XBRL)· 15 May 2026verified |
| Goodwill | — | — | — | — | 294.9 k | 1.5 m | SEC (XBRL)· 15 May 2026verified |
| Intangibles (excl. goodwill) | — | 1.5 m | 13.1 m | 12.7 m | 7.8 m | 409.0 k | SEC (XBRL)· 15 May 2026verified |
| Total assets | 3.4 m | 11.8 m | 21.8 m | 17.4 m | 10.8 m | 195.0 m | SEC (XBRL)· 15 May 2026verified |
| Accounts payable | 744.2 k | 414.1 k | 498.2 k | 1.1 m | 597.1 k | 545.0 k | SEC (XBRL)· 15 May 2026verified |
| Long-term debt | — | — | 11.1 m | 11.5 m | 1.5 m | — | SEC (XBRL)· 07 Apr 2025verified |
| Current liabilities | 1.9 m | 2.3 m | 5.4 m | 6.0 m | 4.3 m | 8.0 m | SEC (XBRL)· 31 Mar 2026verified |
| Total liabilities | 2.0 m | 3.8 m | 11.3 m | 8.8 m | 4.7 m | 8.0 m | SEC (XBRL)· 15 May 2026verified |
| Equity | 1.4 m † | 8.0 m † | 10.5 m † | 8.6 m † | 6.1 m † | 187.0 m † | SEC (XBRL)· 15 May 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -1.9 m | -5.1 m | -12.1 m | -6.5 m | -5.3 m | -14.4 m | SEC (XBRL)· 31 Mar 2026verified |
| Investing cash flow | -171.6 k | -1.0 m | -640.0 k | -225.0 k | -1.9 m | -115.5 m | SEC (XBRL)· 31 Mar 2026verified |
| Financing cash flow | 604.8 k | 13.4 m | 7.6 m | 8.3 m | 3.6 m | 151.7 m | SEC (XBRL)· 31 Mar 2026verified |
| Share repurchases | — | — | — | — | — | 258.0 k | SEC (XBRL)· 31 Mar 2026verified |
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 2 of at least 6
- score weight coverage: 12.5% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 34.9 m USD
Key indicators
Coverage and freshness
Score by group
13% · Insufficient data
Estimated value range
unavailable — no valuation method could be computed
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
no valuation method could be computed
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 2 of at least 6; score weight coverage: 12.5% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | -1,533.9% | 11 (vs peers) | 50% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | unavailable | unavailable | — |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | 0.7% | 11 (on a fixed band) | 50% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partialunavailable · 0/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality· partial11/100 · 1/3 factors with a value
- Returns· partial11/100 · 1/2 factors with a value
- Valuation· partialunavailable · 0/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
AVAX ONE TECHNOLOGY LTD. (AVX). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 2.3 m USD in 2025; YoY growth 8,709.3%; net margin -1,533.9%; ROE -189.6%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (indicators available: 2 of at least 6; score weight coverage: 12.5% of at least 60%; valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
What contradicts it
- Net margin: -1,533.9%
- Shareholder yield (distributions): 0.7%
Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, Interest coverage, Current ratio, P/E (TTM), EV/EBITDA, FCF yield, Payout ratio (FCF).
Versus the vertical median
Finance Services (SIC 6199) · same industry (4-digit SIC) · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| AXPAmerican Express Co | 218.3 bn | 18.3 | 35.9% | 27.9% | +6.4% | −11% / +91% |
| COINCoinbase Global, Inc. | 38.5 bn | — | -4.7% | -12.5% | +9.4% | −47% / +17% |
| SOFISoFi Technologies, Inc. | 21.7 bn | 35.0 | 7.1% | 104.3% | +23.1% | −44% / +130% |
| IRENIREN Limited | 7.8 bn | — | -23.4% | -99.4% | +41.1% | −55% / +340% |
| HUTHut 8 Corp. | 6.0 bn | — | -44.3% | -188.6% | +44.8% | +9% / +415% |
| BLSHBullish | 3.5 bn | — | -27.3% | -0.3% | −2.2% | −47% / unavailable |
| PURRHyperliquid Strategies Inc | 1.9 bn | 3.0 | 32.6% | 3,229.8% | unavailable | unavailable / unavailable |
| CLSKCleanSpark, Inc. | 1.7 bn | — | -68.6% | -130.2% | +102.2% | −55% / +9% |
| WLTHWealthfront Corporation | 1.7 bn | — | -20.5% | -19.4% | +18.2% | unavailable / unavailable |
| BTDRBitdeer Technologies Group | 1.5 bn | — | -196.7% | -171.3% | −5.1% | −51% / +45% |
| RHLDResolute Holdings Management, Inc. | 1.0 bn | 24.1 | — | 4.2% | +9.9% | −26% / unavailable |
| AMBRAmber International Holding Limited | 865.0 m | — | -116.1% | -88.7% | −9.0% | −27% / −51% |
| CDChaince Digital Holdings Inc. | 741.4 m | — | -12.3% | -182.5% | +277.9% | −30% / +622% |
| TRONTron Inc. | 664.1 m | 96.8 | 3.8% | 135.6% | +10.0% | −24% / −48% |
| JFU9F Inc. | 536.7 m | 23.2 | 4.7% | 125.2% | +12.2% | −52% / −43% |
| ABTCAmerican Bitcoin Corp. | 516.7 m | — | -38.5% | -71.7% | +158.8% | −90% / −99% |
| ORBSEightco Holdings Inc. | 340.9 m | — | -157.0% | -1,260.9% | −16.8% | −70% / −74% |
| CHADDefi Development Corp. | 310.0 m | — | -589.3% | -1,319.5% | +442.3% | unavailable / unavailable |
| CPSSConsumer Portfolio Services, Inc. | 221.6 m | 9.9 | 7.5% | 5.0% | +10.4% | +23% / +7% |
| DGXXDigi Power X Inc. | 217.0 m | — | -24.7% | -114.8% | −7.6% | −48% / +50% |
| TONXTon Strategy Company | 159.7 m | — | -75.5% | -532.8% | +1,327.8% | −15% / −93% |
| DEFTDefi Technologies Inc. | 152.4 m | 2.3 | 74.0% | 62.9% | +215.5% | −74% / unavailable |
| HSDTSolana Company | 127.0 m | — | -183.2% | -1,302.8% | +1,057.1% | −49% / −100% |
| AGPUAxe Compute Inc | 86.2 m | — | -1,565.2% | -7,769.8% | +47.7% | +24% / −85% |
| MGLDThe Marygold Companies, Inc. | 84.1 m | — | -20.7% | -17.3% | +8.0% | +93% / +91% |
1- and 3-year price returns: for AVX from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
AVAX One Technology Ltd. (AVX) combines a digital asset treasury built around the AVAX token, Bitcoin mining and, from 2026, development of AI-capable data centers. The company closed a private placement in November 2025 for a purchase price of 219.1 million USD, giving it the financial base for its current strategy, and in the third quarter of 2026 it significantly reduced its convertible debt.
SWOT
Strengths
- The company holds a significant digital asset treasury and combines digital assets with physical mining infrastructure, giving it an independent revenue source.
- The proprietary validator launched in 2026 provides operational control and a revenue stream tied directly to the protocol.
- A substantial reduction in convertible debt in the third quarter of 2026 strengthened the capital structure.
Weaknesses
- The company is not yet profitable, and losses from continuing operations remained significant in fiscal 2025.
- Dependence on a single digital asset makes the company sensitive to events specific to the Avalanche network.
- Frequent leadership changes and the departure of the chief executive have created governance uncertainty.
Opportunities
- Developing an AI-capable data center could diversify revenue if the project materializes.
- Expanding activity in the Avalanche ecosystem could lead to acquisitions of cash-flow positive businesses.
- Increasing mining capacity in Alberta could raise Bitcoin revenue.
Threats
- Sharp volatility in the AVAX price could generate accounting losses and pressure on the share price.
- Uncertain digital asset regulation could limit operations or liquidity.
- A risk of being classified as an investment company could make certain activities harder to continue.
Risks
- Dependence on the AVAX pricehigh
The share value may be linked to the AVAX price, and declines in that price could produce significant accounting losses 1.
- Need for additional financinghigh
The company expects to need additional capital, and financing terms could be unfavorable or unavailable 1.
- Exchange listing compliancemedium
The company received a notice about its minimum bid price, later resolved, which shows exposure to listing requirements 2.
- Leadership transitionmedium
The departure of the chief executive and the appointment of an interim leader could affect continuity of strategy 2.
- Regulatory riskmedium
Interpretation of securities laws could affect the status of the digital assets held 1.
Investment thesis
What would need to be true (bull case)
- If the AVAX token recovers its value, the digital asset treasury could generate substantial gains for shareholders.
- Owned mining and validator infrastructure could produce recurring revenue independent of market conditions.
- Reducing convertible debt could make the company more attractive to institutional investors.
What would break the thesis
- Persistent net losses could continue if revenue does not grow fast enough.
- Dependence on one digital asset could amplify the effects of a market correction.
- Dilution from conversions and future financings could reduce value per share.
What to watch
- Development of mining and staking revenueQ4 2026
- Progress of the Alberta data center project2027
- Appointment of a permanent chief executive2027
- Trend in net losses and digital asset valuationnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
The company was incorporated as AgriForce Growing Systems, Ltd. and changed its name to AVAX One Technology Ltd. in November 2025, focusing on a digital asset strategy built around the AVAX token 1. As of December 31, 2025 it held 9,377,474 AVAX tokens 1, and by June 30, 2026 it had added its own validator operations and Bitcoin mining in Alberta, Canada and Ohio 12. For fiscal 2025, total revenue was 2,340,811 USD and the net loss from continuing operations was 31,994,535 USD 1, showing that the business is still at an early stage.
The company was incorporated as AgriForce Growing Systems, Ltd. and changed its name to AVAX One Technology Ltd. in November 2025, focusing on a digital asset strategy built around the AVAX token 1. As of December 31, 2025 it held 9,377,474 AVAX tokens 1, and by June 30, 2026 it had added its own validator operations and Bitcoin mining in Alberta, Canada and Ohio 12. For fiscal 2025, total revenue was 2,340,811 USD and the net loss from continuing operations was 31,994,535 USD 1, showing that the business is still at an early stage.
The company was incorporated as AgriForce Growing Systems, Ltd. and changed its name to AVAX One Technology Ltd. in November 2025, focusing on a digital asset strategy built around the AVAX token 1. As of December 31, 2025 it held 9,377,474 AVAX tokens 1, and by June 30, 2026 it had added its own validator operations and Bitcoin mining in Alberta, Canada and Ohio 12. For fiscal 2025, total revenue was 2,340,811 USD and the net loss from continuing operations was 31,994,535 USD 1, showing that the business is still at an early stage.
Segments
AVAX digital asset treasury and staking
The core segment is the accumulation of the AVAX token and revenue from staking and delegation to validator nodes; Avalanche Protocol revenue was 607,605 USD in fiscal 2025 1.
Bitcoin mining
The company operates Bitcoin mining facilities in Alberta and Ohio, and revenue from this activity was 1,732,675 USD in fiscal 2025 1; adding 220 machines raised Alberta capacity by about 33% 2.
Data centers
The company is evaluating sites for a 10 MW modular data center in Alberta capable of AI and HPC workloads 2; the project is still in planning and generates no revenue.
Market context
The company operates in the digital asset and blockchain infrastructure market, where more than 172 publicly traded companies added crypto assets to their balance sheets between 2020 and 2025 2. Many of these operated as passive treasury vehicles, while AVAX One aims to generate cash flow from owned infrastructure 2.
The company operates in the digital asset and blockchain infrastructure market, where more than 172 publicly traded companies added crypto assets to their balance sheets between 2020 and 2025 2. Many of these operated as passive treasury vehicles, while AVAX One aims to generate cash flow from owned infrastructure 2.
Trends
- AVAX price volatilityheadwind
The AVAX price has been highly volatile, ranging between 11.43 and 44.00 USD in 2025; a decline in the token's value could generate significant accounting losses 1.
- Demand for AI and HPC capacitytailwind
Accelerating demand for AI and high-performance computing capacity could support the data center project, if it secures power and financing.
- Digital asset regulationmixed
Uncertain interpretation of securities and digital asset laws could affect the liquidity and value of AVAX and the company's regulatory status 1.
- Balance sheet consolidationtailwind
Debt conversions and repayments could improve financial flexibility if the trend continues in coming quarters 3.
Competitive position
The company competes with other entities holding digital assets or active in mining and data centers, some with greater capital resources that could let them react faster to opportunities 1.
The company competes with other entities holding digital assets or active in mining and data centers, some with greater capital resources that could let them react faster to opportunities 1.
- US-listed digital asset treasury companies
Entities that added crypto assets to their balance sheets between 2020 and 2025 and compete for capital and investors 2.
- Bitcoin mining operators
Firms producing Bitcoin through mining and competing on energy cost and computing capacity 1.
- AI data center providers
Operators offering AI and HPC capacity, a growing segment the company enters through its Alberta project 2.
- Other Avalanche ecosystem participants
Validators and staking service providers competing for AVAX delegations 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report (amendment)19 Oct 2026Departure or appointment of officers · Financial statements and exhibits
- Current report07 Oct 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Current report01 Oct 2026Regulation FD disclosure · Financial statements and exhibits
- Current report (amendment)29 Sept 2026Departure or appointment of officers · Financial statements and exhibits
- Current report19 Aug 2026Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
- Current report17 Aug 2026Material agreement · Creation of a direct financial obligation · Financial statements and exhibits
- Quarterly report13 Aug 2026
- Current report05 Aug 2026Material agreement · Creation of a direct financial obligation · Other events · Financial statements and exhibits
- Current report09 Jul 2026Other events · Financial statements and exhibits
- Current report06 Jul 2026Item 3.02 · Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / AVAX One Technology Ltd. · 31 Mar 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / AVAX One Technology Ltd. · 13 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / AVAX One Technology Ltd. · 07 Oct 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.