AVAX One Simultaneously Expands Bitcoin Mining Operations with Acquisition of 220 Bitmain S21 Pro ASIC Machines

Low-Cost Infrastructure at Approximately $0.04 per kWh Provides Competitive Advantage for Scalable Growth

WEST PALM BEACH, FL, April 07, 2026 (GLOBE NEWSWIRE) -- AVAX One Technology Ltd. (Nasdaq: AVX) (“AVAX One” or the "Company"), today announced the signing of a Front End Engineering & Design (“FEED”) proposal for the development of a 10 megawatt (MW) AI/HPC Micro-Grid Data Center at the 4-31 Battery site in Alberta, Canada. This initiative marks a significant step in advancing one of Alberta’s first dedicated micro-grid powered artificial intelligence and high-performance computing facilities.

Under the terms of the engagement, a third party firm, BlueFlare Energy Solutions, Inc. (“BlueFlare”), an Alberta based data center implementation firm, will lead the FEED study, which will establish the technical foundation, regulatory pathway, and project cost framework required to advance the facility toward a final investment decision. In a demonstration of mutual confidence in the project’s viability, this FEED study will be implemented without any upfront capital commitment from the Company and will consist of an independent initial analysis to be conducted by one of three pre-qualified major international engineering firms.

The 4-31 Battery site offers a compelling set of infrastructure advantages, including behind-the-meter natural gas-to-power capability, proximity to 138 kV transmission infrastructure, redundant fiber connectivity, and accessible logistics via Highway 36. The FEED program will run concurrently with the planned build timeline at the site, enabling the AI/HPC development pathway to be fully defined in parallel with initial site operations.

“This FEED engagement represents the first formal step in what we believe will become a landmark AI infrastructure project in Alberta,” said Landon Ruszkowski, Chief Executive Officer of BlueFlare. “BlueFlare is committed to delivering engineering certainty and cost transparency before any significant capital is deployed — thus assuring efficacy in advance of building critical infrastructure of this scale.”

The strategy is centered on developing modular, power-first data center infrastructure in energy-advantaged regions, enabling accelerated deployment timelines and efficient capital utilization. AVAX One believes that increasing constraints around power availability and grid interconnection are creating a structural supply-demand imbalance, positioning alternative, behind-the-meter solutions as a critical component of future capacity expansion.

AVAX One Expands Bitcoin Mining Capacity with Incremental ASIC Acquisition

In a concurrent development underscoring the Company’s growth strategy, AVAX One has completed the acquisition of 220 Bitmain Antminer S21 Pro (234 TH/s) ASIC mining machines. This initiative is expected to increase total hash rate capacity in Alberta by approximately 33%, from roughly 150 petahash to more than 200 petahash, and is designed to be rapidly deployable and immediately revenue-generating with a modest capital investment of less than $500,000. This initial deployment is intended to monetize available power capacity while serving as a foundational step in the Company’s broader infrastructure buildout.

The Bitmain S21 Pro is both cost effective and energy-efficient compared to many Bitcoin mining machines currently available, and the acquisition positions AVAX One for increased mining revenue during the period leading up to the AI/HPC facility’s construction and commissioning.

“We are launching a strategy that we believe directly aligns with one of the most significant infrastructure type opportunities of the coming decade,” said Jolie Kahn, Chief Executive Officer of AVAX One. “Demand for AI and high-performance computing continues to accelerate, while access to power remains the primary bottleneck. Our approach is designed to bridge that gap by combining energy and compute in a modular, scalable format that allows us to move quickly, generate near-term revenue, and position AVAX One for long-term participation in this growth cycle.

“Our legacy Bitcoin mining operations have been running profitably even despite the headwinds from Bitcoin's price and global hash rate. This predictable cash flow is part of the mechanism that sustainably fuels our Avalanche treasury strategy. By scaling up our data center operations, we will have more flexibility to expand our treasury strategy and to look for accretive acquisitions. This move is directly inline with our strategy to invest in both the digital and physical infrastructure that support the blockchain protocols and AI infrastructure that underpin the future of digital finance.”

The combined announcements signal AVAX One’s dual-track approach to digital asset infrastructure: generating near-term revenue through Bitcoin mining while building toward a longer-term, high-value AI/HPC data center operation powered by a proprietary micro-grid energy solution.

The Company’s platform is focused on regions with abundant, low-cost energy resources, including Alberta, where favorable market conditions support scalable, behind-the-meter power generation and rapid deployment. By integrating energy and compute at the site level, AVAX One aims to develop a flexible infrastructure platform capable of supporting evolving workload demands, while maintaining the ability to redeploy assets and expand across future locations.

Modular data centers have emerged as the preferred deployment vehicle for edge and far-edge compute clients, offering faster commissioning timelines compared to conventional facilities. However, the availability of sufficient, dedicated, and cost-competitive power remains the single most critical constraint limiting the deployment of these assets — particularly in remote or grid-constrained locations.

Behind-the-meter natural gas power generation addresses this constraint directly, providing operators with an on-site, controllable, and dispatchable power source that is independent of grid availability, capacity limitations, or utility approval cycles. The growing prevalence of natural gas as a primary power source for data center infrastructure reflects both the economics of the fuel and its ability to deliver reliable baseload generation at scale.

In addition to launching its data center strategy, AVAX One continues to advance its digital asset treasury strategy and broader Avalanche ecosystem initiatives, including exploring decentralized finance-based yield opportunities and evaluating strategic transactions that support the continued migration of financial applications onto the Avalanche blockchain. It’s longer term goals include utilizing this data center initiative to power various businesses it aspires to bring onchain with the Avalanche blockchain.

About AVAX One Technology Ltd.

AVAX One Technology Ltd. (NASDAQ: AVX) is the first publicly traded Avalanche Treasury company, building the premier institutional gateway to the onchain financial economy powered by the Avalanche blockchain network. Through AVAX accumulation, onchain yield, and strategic acquisitions, the Company aims to compound long-term value for its shareholders while supporting the growth of the Avalanche ecosystem. Led by a team of veterans from institutional finance and public company backgrounds and advised by leaders from across the digital asset industry, AVAX One is being built to be a scalable, regulated gateway for public market investors to participate in the growth of the onchain economy. For more information, visit www.avax-one.com.

About BlueFlare Energy Solutions Inc.

BlueFlare Energy Solutions Inc. is a decentralized energy infrastructure and solutions provider operating at the intersection of natural gas, power generation, and high-performance computing. The company specializes in the design, deployment, and operation of modular, behind-the-meter energy systems, including mobile natural gas generation and integrated compute infrastructure. BlueFlare delivers end-to-end services spanning project development, engineering, construction, and ongoing operations, with a focus on optimizing energy utilization, reducing emissions, and monetizing underutilized resources through scalable, distributed power and data solutions.

Forward Looking Statements

This press release includes forward-looking statements within the meaning of Section 27A of the Act, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally can be identified by the use of words such as "anticipate," "expect," "plan," "could," "may," "will," "believe," "estimate," "forecast," "goal," "project," and other words of similar meaning. These forward-looking statements address various matters including statements relating to the anticipated benefits and timing of the completion of the proposed offering and related transactions, the intended use of proceeds from the PIPE offering, expectations regarding future capital raising activity, the assets to be held by the Company, expectations regarding adoption of the Avalanche network, the expected future market, price and liquidity of the digital assets the Company acquires, the macro and political conditions surrounding digital assets, the Company's plan for value creation and strategic advantages, market size and growth opportunities, regulatory conditions, competitive position and the interest of other entities in similar business strategies, technological and market trends, future financial condition and performance, the expected financial impacts of the proposed transactions described herein, and the timing of the closing of the PIPE offering. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, the proposed transactions described herein may not be completed in a timely manner or at all; failure to realize the anticipated benefits of the transactions and the proposed AVAX strategy; changes in business, market, financial, political and regulatory conditions; risks relating to the Company's operations and business, including the highly volatile nature of the price of AVAX and other cryptocurrencies; the risk that the price of the Company's securities may be highly correlated to the price of the digital assets that it holds; risks related to increased competition in the industries and markets in which the Company does and will operate (including the applicable digital assets market); risks relating to significant legal, commercial, regulatory and technical uncertainty regarding digital assets generally; risks relating to the treatment of crypto assets for U.S. and foreign tax purposes, as well as those risks and uncertainties identified in the Company's filings with the SEC. The forward-looking statements in this press release speak only as of the date of this document, and the Company undertakes no obligation to update or revise any of these statements. The statements made in this press release are not intended to be projections of the Company's future results nor an offer of a future securities transaction by the Company. Any offering in the future will be made through compliance with all applicable regulations and the filing of appropriate documents with the SEC, as required under those regulations.

Investor Relations Contact

Sean Mansouri, CFA or Aaron D’Souza
Elevate IR
(720) 330-2829
AVX@elevate-ir.com

Media Contact

Ethan Lyle
Prospero
avax-one@prosperoadvisors.xyz