- $AVAX One reported $2.4 million in quarterly revenue, up more than 400% year over year, led by staking rewards and Bitcoin mining.
- The company held 14.17 million $AVAX tokens as of September 30, 2026, with approximately 99.7% actively staked at an annualized yield of about 5.85%.
- $AVAX One eliminated more than $14.9 million in convertible debt, ended its modular data center and AI/HPC initiatives, and continued a $40 million stock repurchase program.
$AVAX One Revenue Growth Led by Staking Rewards
Simple arithmetic tells the rest of the story. The unrealized gain was larger than the net income figure, meaning the company’s other activity was a net drag for the quarter.
Actual revenue was much smaller, at $2.4 million for the quarter. Even so, $AVAX One said revenue increased by more than 400% year over year, indicating that the growth rate was substantial despite the company’s modest revenue base. Staking rewards from $AVAX holdings generated most of the revenue, contributing $1.8 million, while Bitcoin mining added another $0.7 million.
As of September 30, 2026, $AVAX One held 14.17 million $AVAX tokens. Approximately 99.7% of those holdings were actively staked, producing an annualized yield of about 5.85%. The position gives the company exposure to both the market value of $AVAX and the recurring staking rewards generated by its treasury.
$AVAX One Reduces Debt and Repurchases Shares
The quarter also marked an aggressive effort to reduce leverage. $AVAX One eliminated more than $14.9 million in convertible debt during the third quarter and reduced its convertible debt to zero by early November 2026.
The company has also been buying back its own shares under a $40 million repurchase program. It repurchased approximately 384,000 shares during the third quarter, followed by about 710,000 additional shares in October.
From AgriFORCE Growing Systems to an Avalanche Treasury Company
$AVAX One has undergone a significant change in corporate identity and strategy. The company was previously known as AgriFORCE Growing Systems Ltd., a name associated with a business plan centered on plants rather than proof-of-stake networks.
Its Avalanche treasury strategy began in the fourth quarter of 2025 and initially operated alongside plans for modular data centers and artificial intelligence and high-performance computing infrastructure. Following a strategic review, the company terminated those infrastructure initiatives, including a planned collaborative project with BlueFlare Energy Solutions.
Why This Matters
For investors, the strategic pivot makes $AVAX One a far more concentrated play on Avalanche. The company’s performance is now closely tied to the value of its 14.17 million $AVAX tokens and the staking yield produced by those holdings.
Staking income represents the more consistent component of the strategy. An annualized yield of approximately 5.85% on a nearly fully staked position provides recurring revenue without requiring the company to sell its tokens. However, the dollar value of those rewards remains affected by the market price of $AVAX.
The research findings described the shift as evidence of growing confidence in Avalanche as a revenue-generating framework, against a backdrop of institutional interest in tokenized assets and continued development across the Avalanche ecosystem. With the data center and AI/HPC initiatives terminated, the company’s next-stage performance will be more directly shaped by its Avalanche treasury and related staking activity.
Frequently Asked Questions
How much revenue did $AVAX One generate during the quarter?
$AVAX One reported $2.4 million in quarterly revenue. Staking rewards from $AVAX holdings contributed $1.8 million, and Bitcoin mining contributed $0.7 million.
How much $AVAX did the company hold?
As of September 30, 2026, $AVAX One held 14.17 million $AVAX tokens. Approximately 99.7% of the holdings were actively staked at an annualized yield of about 5.85%.
What happened to the company’s data center and AI plans?
Following a strategic review, $AVAX One terminated its modular data center and AI/HPC initiatives, including a planned collaborative project with BlueFlare Energy Solutions.
