AVAX One spends $110 million to acquire over 9.37 million AVAX tokens, boosting its total holdings to more than 13.8 million

AVAX One, a public company that is building an Avalanche-focused digital asset treasury with the aim of “offering investors regulated access to the Avalanche (AVAX) ecosystem,” has announced that it acquired 9,377,475 AVAX tokens between November 5 and 23, 2025, spending $110 million for the acquisition.

The company disclosed that it purchased the tokens at a weighted average price of $11.73 each, bringing its total AVAX holdings to more than 13.8 million tokens, valued at around $193 million at current token prices.

AVAX One swaps agriculture for digital assets

The accumulation strategy is a major shift for the company, which until recently operated as AgriFORCE Growing Systems, an agriculture technology business. The group completed its corporate rebrand to AVAX One earlier this month, changing its ticker symbol from AGRI to AVX on November 12. 

AVAX One has retained approximately $35 million in cash for more token acquisitions and its own share buybacks.

“Since launching our treasury strategy earlier this month, we have rapidly accumulated more than 13.8 million AVAX and completed our corporate rebrand,” said Jolie Kahn, chief executive officer of AVAX One. “We intend to remain highly opportunistic with our remaining cash position as we evaluate additional purchases of AVAX tokens and our own stock, both of which we believe represent compelling value at current levels.”

The company reportedly has plans to raise up to $550 million to fund further acquisitions.

Matt Zhang, managing partner of Hivemind and chairman of the AVAX One Board, stated that the current market conditions are particularly favorable for accumulation. “With the current market volatility, we believe this is an opportune time to accumulate AVAX and accrete value for our shareholders,” he said. 

He also added that they plan on taking more strategic initiatives to strengthen their position within the ecosystem as they continue to expand their digital asset treasury. 

“Growing AVAX on a per share basis lays the foundation for our vision of building an on-chain financial economy powered by the Avalanche network, and we are committed to consistently scaling our AVAX ownership by deploying sound yield strategies for our existing holdings as well as additional purchases in open market,” said Zhang in the announcement.

High-profile backing and activities in the Avalanche ecosystem

AVAX One has attracted support from investors for its transformation, with Anthony Scaramucci, founder of investment firm SkyBridge Capital, heading its advisory board.

On November 20, the company announced that it had received approval for a $40 million share repurchase program, which it expects to begin executing in the not-so-far future.

AVAX One’s activities come amid institutional interests and projects that are being trialed on the Avalanche blockchain. The network has attracted adoption from major financial institutions, including JPMorgan, Apollo Global Management, and BlackRock, for various tokenization and settlement projects. Its focus on high-speed transactions and regulatory compliance has made it attractive to traditional finance players exploring blockchain technology.

However, it hasn’t seen the pull or traction rival blockchains like Ethereum or Solana have experienced in recent months. 

The Avalanche Foundation, the non-profit steward of the network, is reportedly raising $1 billion to seed digital-asset treasury vehicles. The aim is to strengthen AVAX’s role in on-chain finance and capital markets, creating more publicly traded entities that hold large AVAX treasuries.

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