AVAX One Technology Changes CEO, Jolie Kahn Resigns
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1 day ago
0mins
AVAX One Technology announced a leadership change where Jolie Kahn has resigned as CEO of the company, effective immediately. The board has appointed Pete Wylie, the company's COO, as interim CEO. Wylie will continue to serve as COO. Additionally, the board has initiated a search for a permanent successor and has formally retained executive search firm ZRG Partners to support the process.
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About AVX
AVAX One Technology Ltd., formerly AgriFORCE Growing Systems Ltd., is a Canada-based company. The Company is a digital infrastructure company accelerating the transition to an onchain financial economy. It is engaged in building and operating modular data centers designed to deliver compute capacity for artificial intelligence (AI) and high‑performance computing (HPC) workloads, and in bitcoin mining operations. The Company maintains Avalanche digital asset treasury strategy that involves the accumulation of AVAX tokens and generation of yield through staking and participation in blockchain ecosystems.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
AVAX One CEO Jolie Kahn Resigns, COO Takes Interim Role
- Executive Change: AVAX One CEO Jolie Kahn has resigned effective immediately, with the board appointing current COO Pete Wylie as interim CEO while he continues his COO responsibilities, a change that may impact the company's strategic direction and operational stability.
- Acquisition Plans: AVAX One has signed a letter of intent to acquire an Alberta AI data center site for $2.3 million, a move aimed at enhancing the company's technological infrastructure and data processing capabilities to support future business growth.
- Stock Split: The company will implement a 1-for-12 reverse stock split, which may be intended to increase the share price, improve market perception, and attract more investor interest, although it could impact liquidity in the short term.
- Financial Disclosure: AVAX One's financial information is related to AgriFORCE Growing Systems, and while specific data has not been disclosed, this indicates the company's efforts to seek transparency and build investor trust.
See More
AVAX One Appoints COO Pete Wylie as Interim CEO Following Jolie Kahn's Resignation
- Leadership Change: AVAX One Technology Ltd. announced the immediate resignation of CEO Jolie Kahn, with COO Pete Wylie appointed as Interim CEO, reflecting the company's commitment to stability during this leadership transition.
- Executive Background: Pete Wylie brings extensive operational and financial experience, having served as CFO of Napster Holdings Inc. and successfully guiding the company through its acquisition in 2025, indicating his capability to navigate the company's transformation challenges.
- Strategic Focus: Wylie emphasized his commitment to execution and enhancing long-term shareholder value, indicating that the company will maintain its operational momentum while searching for a permanent CEO.
- Company Vision: As a digital infrastructure company, AVAX One is focused on accelerating the transition to an onchain financial economy, building modular data centers, and continuing Bitcoin mining in Alberta and Ohio, showcasing its strategic positioning in the digital asset space.
See More
AVAX One Signs LOI to Acquire Bantry Data Site in Alberta
- LOI Signing: AVAX One Technology announced the signing of a non-binding Letter of Intent to acquire the Bantry Data Site in Alberta for $2.3 million, marking its first planned data center acquisition in Western Canada, which aligns with the company's strategy to enhance AI and HPC infrastructure.
- Transaction Details: Under the LOI terms, the transaction is targeted to close on August 1, 2026, with the company placing a fully refundable deposit of $100,000 and entering a 30-day exclusive due diligence period that includes a site review process to ensure feasibility and compliance.
- Energy Advantage Utilization: This acquisition supports AVAX One's strategy to leverage energy-advantaged, behind-the-meter powered sites to build high-performance computing and AI infrastructure, aiming to enhance the company's competitiveness in the rapidly growing data center market.
- Market Strategy Expansion: By establishing a data center in Western Canada, AVAX One not only addresses the increasing demand for computing power but also strengthens its strategic position in the North American market, driving future business growth and investment returns.
See More
AVAX One to Acquire Energy-Advantaged Data Center
- Acquisition Plan: AVAX One has signed a letter of intent to acquire the Bantry Data Site for $2.3 million, with a targeted closing date of August 1, 2026, marking a significant step in the company's expansion strategy in Western Canada.
- Energy Advantage: The Bantry Data Site aligns with AVAX One's development model, focusing on energy-advantaged and modular data centers aimed at accelerating the deployment of AI and high-performance computing, thereby enhancing the company's competitiveness in this sector.
- Due Diligence: AVAX One has deposited a fully refundable $100,000 and entered a 30-day due diligence period, during which it will have exclusive access to the site and related information, ensuring a smooth transaction process.
- Strategic Implications: This acquisition will strengthen AVAX One's infrastructure strategy, reducing reliance on traditional utilities and propelling the company's growth in digital infrastructure and the onchain economy.
See More
AVAX One Launches AI Inference Pilot Project
- Pilot Project Launch: AVAX One has initiated an AI inference pilot at its Redwater facility, expected to be operational within 12 weeks, aiming to convert approximately 100 kilowatts of excess Bitcoin mining capacity to AI workloads, thereby validating its power-first economic assumptions.
- Economic Assessment Results: Preliminary assessments indicate that AI inference can generate significantly higher revenue per kilowatt-hour compared to Bitcoin mining, particularly from coding assistants and AI agent workloads, ensuring maximum power utilization by allowing Bitcoin mining during idle times.
- De-risking Strategy: This pilot serves as a preliminary step for the company's 10 MW AI/HPC project, aimed at validating hardware utilization and user revenue assumptions, providing data to inform future facility configurations and commercialization strategies.
- Future Development Plans: Results from the pilot will directly influence the company's new 10 MW facility initiative in Alberta, targeted for client readiness in Q1 2027, further solidifying its market position in the digital infrastructure sector.
See More
AVAX One Approves Reverse Stock Split
- Reverse Stock Split: AVAX One's Board has approved a reverse stock split of 12 shares into 1, aimed at meeting Nasdaq's minimum bid price requirement, effective June 15, 2026, reducing outstanding shares from 92,335,381 to 7,694,615.
- Shareholder Approval: The reverse split was supported by shareholders on May 29, 2026, indicating confidence in the company's strategic adjustments, which may enhance market perception of the stock.
- Market Compliance: This reverse split is implemented to comply with Nasdaq's listing requirements, ensuring the company's ongoing compliance in capital markets and mitigating potential delisting risks, thereby improving its image among investors.
- Digital Infrastructure Focus: AVAX One is dedicated to building modular data centers that leverage energy-advantaged regions for efficient computing capacity, currently mining Bitcoin in Alberta and Ohio at a hashrate of approximately 300 PH/s, reflecting its strategic positioning in the digital economy transition.
See More
AVAX One CEO Jolie Kahn Resigns, COO Takes Interim Role
- Executive Change: AVAX One CEO Jolie Kahn has resigned effective immediately, with the board appointing current COO Pete Wylie as interim CEO while he continues his COO responsibilities, a change that may impact the company's strategic direction and operational stability.
- Acquisition Plans: AVAX One has signed a letter of intent to acquire an Alberta AI data center site for $2.3 million, a move aimed at enhancing the company's technological infrastructure and data processing capabilities to support future business growth.
- Stock Split: The company will implement a 1-for-12 reverse stock split, which may be intended to increase the share price, improve market perception, and attract more investor interest, although it could impact liquidity in the short term.
- Financial Disclosure: AVAX One's financial information is related to AgriFORCE Growing Systems, and while specific data has not been disclosed, this indicates the company's efforts to seek transparency and build investor trust.
See More
AVAX One Appoints COO Pete Wylie as Interim CEO Following Jolie Kahn's Resignation
- Leadership Change: AVAX One Technology Ltd. announced the immediate resignation of CEO Jolie Kahn, with COO Pete Wylie appointed as Interim CEO, reflecting the company's commitment to stability during this leadership transition.
- Executive Background: Pete Wylie brings extensive operational and financial experience, having served as CFO of Napster Holdings Inc. and successfully guiding the company through its acquisition in 2025, indicating his capability to navigate the company's transformation challenges.
- Strategic Focus: Wylie emphasized his commitment to execution and enhancing long-term shareholder value, indicating that the company will maintain its operational momentum while searching for a permanent CEO.
- Company Vision: As a digital infrastructure company, AVAX One is focused on accelerating the transition to an onchain financial economy, building modular data centers, and continuing Bitcoin mining in Alberta and Ohio, showcasing its strategic positioning in the digital asset space.
See More
AVAX One Signs LOI to Acquire Bantry Data Site in Alberta
- LOI Signing: AVAX One Technology announced the signing of a non-binding Letter of Intent to acquire the Bantry Data Site in Alberta for $2.3 million, marking its first planned data center acquisition in Western Canada, which aligns with the company's strategy to enhance AI and HPC infrastructure.
- Transaction Details: Under the LOI terms, the transaction is targeted to close on August 1, 2026, with the company placing a fully refundable deposit of $100,000 and entering a 30-day exclusive due diligence period that includes a site review process to ensure feasibility and compliance.
- Energy Advantage Utilization: This acquisition supports AVAX One's strategy to leverage energy-advantaged, behind-the-meter powered sites to build high-performance computing and AI infrastructure, aiming to enhance the company's competitiveness in the rapidly growing data center market.
- Market Strategy Expansion: By establishing a data center in Western Canada, AVAX One not only addresses the increasing demand for computing power but also strengthens its strategic position in the North American market, driving future business growth and investment returns.
See More
AVAX One to Acquire Energy-Advantaged Data Center
- Acquisition Plan: AVAX One has signed a letter of intent to acquire the Bantry Data Site for $2.3 million, with a targeted closing date of August 1, 2026, marking a significant step in the company's expansion strategy in Western Canada.
- Energy Advantage: The Bantry Data Site aligns with AVAX One's development model, focusing on energy-advantaged and modular data centers aimed at accelerating the deployment of AI and high-performance computing, thereby enhancing the company's competitiveness in this sector.
- Due Diligence: AVAX One has deposited a fully refundable $100,000 and entered a 30-day due diligence period, during which it will have exclusive access to the site and related information, ensuring a smooth transaction process.
- Strategic Implications: This acquisition will strengthen AVAX One's infrastructure strategy, reducing reliance on traditional utilities and propelling the company's growth in digital infrastructure and the onchain economy.
See More
AVAX One Launches AI Inference Pilot Project
- Pilot Project Launch: AVAX One has initiated an AI inference pilot at its Redwater facility, expected to be operational within 12 weeks, aiming to convert approximately 100 kilowatts of excess Bitcoin mining capacity to AI workloads, thereby validating its power-first economic assumptions.
- Economic Assessment Results: Preliminary assessments indicate that AI inference can generate significantly higher revenue per kilowatt-hour compared to Bitcoin mining, particularly from coding assistants and AI agent workloads, ensuring maximum power utilization by allowing Bitcoin mining during idle times.
- De-risking Strategy: This pilot serves as a preliminary step for the company's 10 MW AI/HPC project, aimed at validating hardware utilization and user revenue assumptions, providing data to inform future facility configurations and commercialization strategies.
- Future Development Plans: Results from the pilot will directly influence the company's new 10 MW facility initiative in Alberta, targeted for client readiness in Q1 2027, further solidifying its market position in the digital infrastructure sector.
See More
AVAX One Approves Reverse Stock Split
- Reverse Stock Split: AVAX One's Board has approved a reverse stock split of 12 shares into 1, aimed at meeting Nasdaq's minimum bid price requirement, effective June 15, 2026, reducing outstanding shares from 92,335,381 to 7,694,615.
- Shareholder Approval: The reverse split was supported by shareholders on May 29, 2026, indicating confidence in the company's strategic adjustments, which may enhance market perception of the stock.
- Market Compliance: This reverse split is implemented to comply with Nasdaq's listing requirements, ensuring the company's ongoing compliance in capital markets and mitigating potential delisting risks, thereby improving its image among investors.
- Digital Infrastructure Focus: AVAX One is dedicated to building modular data centers that leverage energy-advantaged regions for efficient computing capacity, currently mining Bitcoin in Alberta and Ohio at a hashrate of approximately 300 PH/s, reflecting its strategic positioning in the digital economy transition.
See More
