Pilot Expected to Go Live Within Approximately 12 weeks; Serves as Initial Proof Point for the Company's AI/HPC Data Center Program in Alberta

WEST PALM BEACH, FL, June 16, 2026 (GLOBE NEWSWIRE) -- AVAX One Technology Ltd. (NASDAQ:AVX) ("AVAX One" or the "Company"), today announced the launch of an initial AI inference pilot at its existing Redwater facility to test the conversion of approximately 100 kilowatts of excess capacity from Bitcoin mining to AI workloads. Management expects the pilot to be operational within approximately 12 weeks. The deployment is being implemented with the Company's infrastructure development partner with continuing due diligence conducted through the engineering firm retained by the Company.

Why AI Inference?

AI inference is the work of running large AI models to answer user requests. It is the engine behind coding assistants, chatbots, and AI agents. Because AVAX One generates its own low-cost, behind-the-meter power, the Company can optimize for which workload generates the highest revenue per kilowatt-hour.

Preliminary economic assessments prepared with the Company's advisors indicate that AI inference can generate a significant multiple of Bitcoin mining's gross revenue per kilowatt-hour when fully utilized. The highest returns are expected to be from coding assistants and AI-agent workloads. However, any idle capacity will convert to Bitcoin mining, ensuring maximum power utilization and revenue generation from day one. The pilot's primary objective is to validate these economic assumptions, which are internal planning estimates that assume high hardware utilization.

"We believe power is the scarcest resource in AI, and we already own it," said Jolie Kahn, CEO of AVAX One. "This pilot answers a simple question with real customers and real workloads: how much more can our power earn serving AI than mining Bitcoin? It's a fast, low-cost test of the thesis behind our entire power-first strategy. Every hour the hardware is not serving AI, it keeps mining Bitcoin, so nothing is wasted while we learn. What we prove here flows directly into our new 10 MW Tier 3-ready facility initiative in Alberta, targeted for client readiness in Q1 2027, along with our future projects."

The pilot is a deliberate de-risking step ahead of the Company's previously announced 10 MW AI/HPC powered land program in Alberta. At small scale and modest cost, it will validate the two assumptions that matter most: that demand can be aggregated to keep hardware highly utilized, and that real-world per-user revenue matches the Company's models. Results will inform configuration and commercialization of the 10 MW facility and the Company's broader Western Canada initiatives.

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 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@prospero.agency

AVAX One Launches AI Inference Pilot, Testing Conversion of Excess Power Capacity to Higher-Value AI Workloads