AVAX One Launches With Ambitious Fundraising
AgriFORCE Growing Systems, a former agriculture-tech firm turned bitcoin miner, announced its pivot to a crypto treasury company under the new name AVAX One. The company revealed plans to raise approximately $550 million from outside investors to acquire AVAX tokens on the Avalanche blockchain.
The move positions AVAX One as the first public company explicitly focused on tokenising real-world and financial assets on Avalanche, a high-speed blockchain network increasingly used by Wall Street banks and asset managers. The AVAX token itself has a market capitalisation of roughly $13 billion.
The company’s advisory board will be led by Anthony Scaramucci, founder of SkyBridge Capital and former White House advisor. Scaramucci will play a key role in capital raising and marketing. Hivemind Capital, led by former Citigroup executive Matt Zhang, has also invested significant capital and is expected to serve as chairman. Both Scaramucci and Hivemind, along with other investors, will hold majority ownership of AVAX One.
Following the announcement, AgriFORCE stock surged 134% on Monday, closing with a market capitalisation of $7.5 million, up from $3.2 million on Friday.
Strategic Focus on Tokenisation
AVAX One plans to acquire over $700 million in AVAX tokens as part of its treasury strategy. In addition to holding digital assets, the company aims to tokenise traditional financial instruments, allowing them to be traded on Avalanche.
Scaramucci emphasised the long-term vision in a company statement:
“I believe all assets will eventually be tokenised, and Avalanche is positioned as a go-to chain for tokenisation of all types of real-world assets.”
The roadmap includes acquiring fintech and insurance companies and transitioning their operations onto the Avalanche network. This strategy mirrors other crypto treasury companies like SkyBridge, which has tokenised $300 million of its flagship hedge funds on Avalanche since February 2024.
Hivemind Capital’s Zhang underscored the supportive regulatory environment for tokenisation, referencing the recently enacted Genius Act, which establishes a legal framework for stablecoins and tokenised dollars:
“For the first time, we have a very supportive regulatory environment for us to really try to achieve the full potential of this technology. We have to dream big.”
The firm sees tokenisation as a critical pathway for expanding access to digital finance while integrating traditional assets with blockchain infrastructure.
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Market Context and Investor Appetite
While the launch has generated excitement, investors remain cautious. Research from K33 indicates roughly 25% of all Bitcoin treasury companies trade below the total value of the crypto assets they hold. Shares of some firms have also experienced sharp sell-offs after rapid price gains, reflecting the speculative nature of the market.
Crypto treasury companies like AVAX One typically follow a playbook pioneered by Strategy (formerly MicroStrategy): raise capital through equity or debt, acquire digital tokens, and build a treasury while publicly trading shares. To accelerate access to public markets, many are merging with small or struggling publicly traded firms or special-purpose acquisition companies.
The backdrop of favourable regulations under the Genius Act, combined with public figures like Scaramucci endorsing blockchain investment, has created a renewed sense of optimism for treasury-focused crypto companies.
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