AVAX One Raises $550M to Build $700M AVAX Treasury
AgriFORCE Growing Systems (NASDAQ: AGRI) has rebranded as AVAX One and launched a $550 million capital raise to acquire AVAX tokens and build a $700 million crypto treasury. The fundraising comprises a $300 million PIPE and $250 million equity-linked offering led by Hivemind Capital, with participation from Galaxy Digital, Kraken, Digital Currency Group, ParaFi, HashKey and over 50 institutional investors.
AVAX One aims to boost per-share value, deepen Avalanche integration and accumulate AVAX tokens. The company retains its TerraHash Digital energy arm. Strategic support comes from Anthony Scaramucci on the advisory board and Matt Zhang as board chair.
Following the announcement, AGRI shares jumped 132%, while AVAX token prices slipped 3% over 24 hours.
Bullish
The launch of a $550 million capital raise to accumulate AVAX tokens and build a $700 million treasury signals strong institutional confidence in Avalanche. While AVAX token prices dipped 3% on the announcement, large-scale token accumulation by a Nasdaq-listed entity should reduce circulating supply and support long-term price appreciation. Strategic advisory from figures like Scaramucci and board leadership under Matt Zhang further solidify investor trust. Overall, this moves market sentiment toward bullish on AVAX.