AVAX One Signs Non-Binding Letter of Intent to Acquire Powered Data Center Site in Alberta, Canada
Rhea-AI Summary
AVAX One (Nasdaq: AVX) signed a non-binding LOI to acquire the Bantry Data Site, an energy-advantaged, behind-the-meter powered data center site in Alberta, Canada, for $2.3 million.
The site is targeted for modular AI and high-performance computing deployments, supporting AVAX One’s power-first data center expansion in Western Canada. The LOI includes a fully refundable $100,000 deposit, a 30-day exclusive due diligence period with access to a virtual data room and on-site inspections, and a targeted closing date of August 1, 2026, subject to definitive agreement.
Positive
- Proposed $2.3 million acquisition of powered data center site in Alberta
- Energy-advantaged, behind-the-meter site aligned with AI and HPC strategy
- 30-day exclusive due diligence period with full information access
- Targets August 1, 2026 closing for first step in Western Canada expansion
Negative
- LOI is non-binding and transaction is not yet a definitive agreement
- Closing is subject to satisfactory due diligence and final documentation
- Fully refundable $100,000 deposit indicates limited financial commitment at this stage
News Market Reaction – AVX
On the day this news was published, AVX declined 0.39%, reflecting a mild negative market reaction. Argus tracked a peak move of +9.3% during that session. Argus tracked a trough of -12.6% from its starting point during tracking. Our momentum scanner triggered 4 alerts that day, indicating moderate trading interest and price volatility. This price movement removed approximately $181K from the company's valuation, bringing the market cap to $46.17M at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jun 16 | AI pilot launch | Positive | +9.4% | Launched AI inference pilot repurposing 100 kW toward AI workloads. |
| Jun 10 | Reverse stock split | Negative | -10.3% | Approved 1-for-12 reverse split to meet Nasdaq minimum bid requirement. |
| Jun 09 | Investor conferences | Neutral | -0.8% | Announced participation in virtual investor and AI data center conferences. |
| Jun 02 | Buyback update | Positive | -5.0% | Reported progress on $40M repurchase with additional shares bought in May. |
| May 26 | Buyback update | Positive | +1.6% | Disclosed ongoing $40M buyback with cumulative shares repurchased since 2025. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
AVX has generally traded in line with the tone of its news, with one notable divergence on a buyback update.
Key Terms
non-binding letter of intent financial
behind-the-meter technical
high-performance computing technical
due diligence financial
virtual data room financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Proposed Acquisition Would Add an Energy-Advantaged, Behind-the-Meter Site Targeted for AI and HPC Compute Development
WEST PALM BEACH, FL, July 01, 2026 (GLOBE NEWSWIRE) -- AVAX One Technology Ltd. (Nasdaq: AVX) (“AVAX One” or the “Company”) today announced that it has signed a non-binding letter of intent (the “LOI”) to acquire the Bantry Data Site, an energy-advantaged data center site in Alberta, Canada.
The proposed acquisition would mark the first step in AVAX One’s power-first data center expansion across Western Canada, building on the Company’s existing Alberta operations and its broader planned AI/HPC infrastructure build-out. The Bantry site fits squarely within AVAX One’s development model, which targets behind-the-meter, energy-advantaged sites capable of supporting modular data center deployments for AI and high-performance computing workloads.
“The Bantry Data Site represents exactly the kind of asset we are targeting — an energy-advantaged, behind-the-meter site that can be developed into productive AI and HPC compute capacity on an accelerated timeline,” said Jolie Kahn, CEO of AVAX One. “As we advance our data center initiatives in Western Canada, acquisitions like this enable us to build a robust portfolio of powered sites that support our infrastructure strategy without relying on traditional utility timelines. We look forward to completing due diligence and moving toward a definitive agreement in the coming weeks.”
Transaction Overview
Under the terms of the LOI, AVAX One would acquire the site for a purchase price of
As part of the LOI, AVAX One has deposited a fully refundable
About AVAX One Technology Ltd.
AVAX One Technology Ltd. (NASDAQ: AVX) is a digital infrastructure company accelerating the transition to an onchain financial economy. The Company builds power-first, modular data centers in energy-advantaged regions — leveraging behind-the-meter generation and microgrid design to deliver reliable, cost-efficient compute capacity for AI and high-performance computing (HPC) workloads. The Company’s powered land model eliminates grid dependency and delivers pre-energized, Tier 3-ready sites on accelerated timelines unavailable through traditional utility-connected development. In addition, the Company continues to mine Bitcoin in Alberta and Ohio, operating at a hashrate of approximately 300 PH/s. Alongside AVAX One’s physical infrastructure, the Company maintains a strategic Avalanche digital asset treasury, accumulating AVAX and generating onchain yield through native staking and ecosystem participation. Together, these three pillars give public market investors unique exposure to both the digital infrastructure layer and the onchain economy. For more information, please visit www.avax-one.com.
Forward Looking Statements
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements can generally be identified by the use of words such as “anticipate,” “expect,” “intend,” “plan,” “could,” “may,” “will,” “would,” “believe,” “estimate,” “target,” “project,” and other words of similar meaning. These forward-looking statements include, but are not limited to, statements regarding the proposed acquisition of the Bantry Data Site and the issued and outstanding shares of Newbit Technology Inc.; the expected timing and completion of due diligence; the negotiation and execution of a definitive purchase and sale agreement; the anticipated closing of the proposed transaction and its targeted closing date; the purchase price and other terms of the proposed transaction; the Company’s plans to develop the site into AI and high-performance computing (HPC) compute capacity; the anticipated benefits of the proposed transaction and its fit within the Company’s power-first data center strategy in Western Canada; and the Company’s broader infrastructure, Bitcoin mining, and digital asset treasury activities.
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 LOI is non-binding, and the proposed transaction may not proceed on the contemplated terms or at all; the parties may fail to complete due diligence to the Company’s satisfaction or to negotiate and execute a definitive purchase and sale agreement; the proposed transaction may not close on the anticipated timeline or at all; the Company may be unable to develop the site into productive compute capacity on the expected timeline or budget, or to secure adequate power, equipment, or customers; risks relating to the Company’s operations and business, including the highly volatile nature of the price of Bitcoin, AVAX, and other digital assets, and the risk that the price of the Company’s securities may be highly correlated to the price of the digital assets it holds; increased competition in the data center, AI/HPC, and digital asset industries; and legal, commercial, regulatory, and technical uncertainties affecting the Company’s business, as well as those risks and uncertainties identified in the Company’s filings with the U.S. Securities and Exchange Commission (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, whether as a result of new information, future events, or otherwise. The statements made in this press release are not intended to be projections of the Company’s future results, nor an offer to sell or the solicitation of an offer to buy any securities.
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@prospero.agency
