AgriFORCE stock rallies on pivot to build AVAX treasury
The move comes as Avalanche sees rising activity in gaming and new institutional products, with backers including Hivemind, Galaxy and Kraken.
Shares of AgriFORCE Growing Systems surged more than 200% at Monday’s open after the agricultural technology company announced a pivot into an AVAX digital asset treasury model.
The company will rebrand as AVAX One and aims to raise $550 million to build a treasury centered on Avalanche (AVAX), the native token of the Avalanche blockchain.
According to a Monday press release, the company’s goal is to accumulate more than $700 million in AVAX tokens. As a long-term strategy, it also plans to acquire and integrate revenue-generating fintech businesses into the Avalanche network.