AVAX One Q1 Revenue Rises to $2.5M, Net Loss $46.4M, 14M AVAX Staked
AVAX One’s Q1 revenue rose to $2.5 M from $0.3 M year-over-year while net loss widened to $46.4 M ($0.48 per share) and cash was $16.5 M. It secured a FEED proposal for a 10 MW AI/HPC data center in Alberta, expanded mining capacity to 300 PH/s and holds 14 M AVAX staked.
1. Q1 Financial Results
AVAX One’s first-quarter revenue rose to $2.5 M compared to $0.3 M in Q1 2025, driven by staking rewards and mining income. The company reported a net loss of $46.4 M ($0.48 per share) and an adjusted net loss of $2.9 M ($0.03 per share), excluding non-cash and one-time charges.
2. Mining and Treasury Operations
The Avalanche treasury expanded to 14 million AVAX, with over 90% actively staked, generating approximately $1.9 M in staking rewards at an annualized 6% yield. Bitcoin mining revenue contributed $0.6 M, and capacity increased by 33% to over 300 PH/s after acquiring 220 S21 Pro ASIC miners.
3. AI/HPC Infrastructure Expansion
In April, AVAX One secured a FEED proposal with BlueFlare for a 10 MW AI/HPC micro-grid data center in Alberta, targeting client readiness in Q1 2027. The company executed a LOI for a Tier 3-ready site and engaged ASCENT Consulting as Owner’s Engineer to advance scalable powered land sites from 5 MW to over 50 MW.
4. Liquidity and Capital Allocation
As of March 31, AVAX One held $16.5 M in cash, $5.4 M in restricted cash and $5.0 M in escrow receivables, totaling $26.9 M in liquidity, providing about three years of runway. The company repurchased 3.5 million common shares under its $40 M buyback program.