AVAX One Technology is a digital asset holding company whose primary business is accumulating and holding AVAX tokens, the native cryptocurrency of the Avalanche blockchain network. The company completed a pivot to digital assets in late 2025, raising ~$219M through a private placement to purchase AVAX tokens. As of year-end 2025, the company held 12.4M AVAX tokens on its balance sheet, plus rights to an additional 1.46M tokens pending transfer restrictions. The core financial proposition is holding AVAX and allowing it to appreciate — analogous to MicroStrategy's Bitcoin treasury strategy, but applied to AVAX. The company generates modest recurring revenue by staking its AVAX holdings on the Avalanche network, earning additional tokens at roughly 5.5%-6.5% annually, and compounds returns by re-staking rewards. Staking operations are managed by Hivemind Capital Partners under a 10-year agreement, for which AVAX One pays a 1.25% annual management fee. As a secondary business, AVAX One mines Bitcoin across three facilities in Alberta and Ohio, running ~2,200 ASIC machines. The company holds all mined Bitcoin on its balance sheet, selling only to fund operations. AVAX One uses flare natural gas for power at ~$0.05/kWh, keeping energy costs low. The company's legacy ag-tech operations were shut down in early 2025, and its remaining legacy asset is being sold.