Section · AVX — Nasdaq: AVX · CIK 0001826397
AVAX One.
The shell that pivoted. A failing ag-tech company was reversed into an AVAX treasury by a Hivemind-led PIPE of about $300M. It runs its own validators and pays its chairman’s fund to manage the tokens. For its twin, see Avalanche Treasury Corp, which has a section of its own.
03 — The Deposit
The deposit that gave it away
AVAX One has never published a wallet address, in a filing or anywhere else. But an address is not the only thing that identifies a wallet. An exact quantity has to go in the financial statements, and a non-round quantity works like a database join key: if a single wallet on the chain moved the filed number to the unit, and the filer is the only company disclosing that position, the wallet is identified. AVX filed one such number.
AVAX in the filed Treehouse deposit, stated to the decimal
tAVAX the deposit minted, in one transaction on 11 Feb 2026
of all tAVAX in existence now sits in the wallet that received it
The match, on the record
| Filed | On the chain, at that block | Wallet |
|---|---|---|
| 829,989.0 AVAXthe filed Treehouse tAVAX deposit | one deposit of exactly 829,989.0 AVAX minted 659,216 tAVAX; the wallet now holds 97.6% of all tAVAX in existence | 0x24708f…23F853tx 2026-02-11, block 77,820,843 · Treehouse tAVAX |
Deposit transaction and balances read from the Avalanche C-Chain public RPC and cross-checked on Snowscan (tx 0x7a1a50a6… on Snowscan). Contract 0x14A84F1a61cCd7D1BE596A6cc11FE33A36Bc1646 (Treehouse tAVAX).
The deposit is the on-chain face of a position the company describes in its own words: Also deployed roughly 829,989 AVAX into Treehouse's tAVAX, a BENQI-powered liquid-staking token, targeting about 6% yield (Mar 2026). When AVX swapped roughly 800K AVAX into tAVAX in March, its accountants booked a $5.3M realized loss although nothing was sold, because the accounting treats the swap as a disposal. So the same position surfaces three times: as a filed dollar figure, as an X post, and as a wallet on the chain, and only the exact quantity ties the three together.
Because the wallet holds 97.6% of every tAVAX in existence, the token’s entire supply curve is, in effect, a public chart of one company’s position. That is a strange kind of transparency: the company never named the wallet, yet anyone who has matched the deposit can watch its liquid-staking position move in real time.
Proven versus inferred
A wallet label is a name someone typed. A join key is an unrounded number a company filed with the SEC that matches a single wallet on the chain. The match is proven. That the wallet belongs to the company is inferred, from that quantity, from each filer being the only registrant disclosing that position, and from the BitGo custody pattern. An inference is weaker than a disclosure, and no address has been disclosed. The method also reaches only the liquid-staking slice; the custodied and natively staked bulk of each treasury stays invisible.
The same method pinned AVAT’s two stAVAX wallets from its filed quantities; that trace, and the full method, is in the AVAT section.
Two companies, nearly one name
An easy mistake to make, and one this investigation nearly made. Matching a wallet starts with reading the right company’s filings.
Avalanche Treasury Corporation
Mountain Lake Acquisition Corp SPAC — closed 11 June 2026
Pure-play Avalanche treasury vehicle
AVAX One Technology Ltd.
Formerly AgriFORCE Growing Systems Ltd., renamed Nov 2025
Modular AI/HPC data centres, Bitcoin mining, plus an AVAX treasury
AVX mines Bitcoin, so the covenants on its debentures, the conditions attached to its debt, are denominated in cash and Bitcoin. That looks absurd for a company called AVAX One until you know what it does. Read the wrong company’s 8-K and you will explain the wrong wallet.