AgriFORCE Rebrands as AVAX One, Stock Soars 200%

The announcement represents a fundamental transformation for AgriFORCE. Previously focused on clean-energy Bitcoin mining, the company is now staking its future almost entirely on the Avalanche blockchain. In a statement, AgriFORCE CEO Jolie Kahn framed the move as a response to a changing financial architecture. “Programmable blockchains like Avalanche are the new foundation,” Kahn stated, positioning the newly christened AVAX One as “a professionally-managed vehicle” for public market investors to gain direct exposure to this transformation. The core mission, she added, is to “maximize our ownership of this foundational technology, AVAX, on a per-share basis,” delivering value as the on-chain economy grows.

This pivot raises immediate questions about the fate of the company’s original Bitcoin mining operations. Unlike other public companies that have added crypto to their balance sheets, AgriFORCE was already deeply embedded in the digital asset space through its BTC mining activities. The provided text notes that it is unclear whether the firm will continue these operations, and inquiries from Decrypt for clarification were not immediately answered. This strategic ambiguity highlights the sheer scale of the shift, moving from an operational business to what is effectively a dedicated investment vehicle for a single cryptocurrency.

To execute its ambitious plan of accumulating over $700 million in AVAX, AgriFORCE has laid out a comprehensive capital-raising strategy. The centerpiece is a $300 million PIPE (Private Investment in Public Equity), which is subject to shareholder approval. This PIPE was led by HiveMind Capital and garnered participation from over 50 additional firms, including heavyweights like Galaxy Digital, Digital Currency Group, ParaFi, and Kraken. Beyond the PIPE, the company plans to raise an additional $250 million through equity-linked instruments, bringing the total potential capital raise to approximately $550 million.

The credibility of this endeavor is bolstered by a significant reshuffling of leadership and advisory roles. HiveMind Capital founder Matt Zhang has been nominated as Chairman of the Board. In his statement, Zhang articulated a grand vision to build the “‘Berkshire Hathaway of the on-chain financial economy,'” a multi-year thesis centered on creating a scalable way for Wall Street to gain exposure to institutional-grade blockchain infrastructure. The company also announced the formation of a new strategic advisory board, adding considerable firepower with the appointments of SkyBridge Capital founder Anthony Scaramucci and Coinbase Institutional head Brett Tejpaul.

The market’s response to the announcement was immediate and explosive. AgriFORCE’s stock (ticker: AGRI) skyrocketed more than 200% soon after U.S. trading began, and was recently trading at $6.64, up 175% on the day. This surge stands in stark contrast to the price of AVAX itself, which was down about 4.5% to $31.47 amid a broader crypto market dip, though it remained up about 9% for the week. The disparity underscores that the market is betting on the success of AgriFORCE’s novel corporate structure and accumulation strategy, rather than simply tracking the underlying asset’s short-term price movements.

AgriFORCE’s move is the latest and one of the most significant developments in the corporate crypto treasury trend pioneered by Michael Saylor’s MicroStrategy. Since 2020, MicroStrategy has accumulated a staggering $72 billion worth of Bitcoin, inspiring a wave of followers. This trend has since expanded beyond BTC to include other major cryptocurrencies like Ethereum, XRP, Solana, and BNB. AgriFORCE’s commitment to Avalanche, however, marks a new frontier, being the first Nasdaq-listed firm to make AVAX the cornerstone of its treasury strategy. As Matt Zhang noted, the long-term plan involves not just asset accumulation but also “acquiring and onboarding cash-flowing fintech businesses onto the Avalanche network,” creating a differentiated growth model compared to other digital asset treasuries and ETFs.