Preliminary Q1 2026 Revenue up more than 2x Sequentially to Approximately $2.4 Million

Expansion into Tier 3 AI/HPC Data Center Infrastructure is Underway

WEST PALM BEACH, FL, April 23, 2026 (GLOBE NEWSWIRE) -- AVAX One Technology Ltd. (NASDAQ:AVX) ("AVAX One" or the "Company"), today announced preliminary financial and operational results for the three months ended March 31, 2026.

Preliminary Q1 2026 Revenue and Liquidity Highlights

Based on preliminary results for the quarter ended March 31, 2026, the Company expects to report a revenue increase of more than double to $2.4 million compared to Q4 2025. The increase was primarily driven by increased Avalanche staking rewards and Bitcoin mining revenue. In addition, AVAX One is reporting a total cash balance of $27.2 million, which provides the Company with more than adequate liquidity to fund operating costs for more than three years without liquidating any of its digital assets.

Operational Highlights

Executed a Letter of Intent to develop an initial 10 MW Tier 3-ready AI/HPC powered land site in Alberta, with expected readiness for end-client deployment in Q1 2027, marking the Company's formal expansion into data center infrastructure and positioning AVAX One to capitalize on accelerating demand for compute capacity and energy-advantaged digital infrastructure. The Company has already undertaken the next steps following the LOI and has initiated the formal due diligence process, including retention of counsel in Alberta, and is in the final stages of choosing the engineering firm for the project.
Increased Bitcoin mining capacity to ~250 PH/s, with near-term expansion expected to exceed 300 PH/s within the next 30 days, reflecting continued investment in scalable, energy-efficient compute infrastructure.
Expanded Avalanche digital asset treasury to approximately 14.0 million AVAX, with over 90% actively staked, generating a ~6% annualized yield and reinforcing the Company's focus on yield-generating onchain assets.
Achieved a current annualized revenue run rate of over $11.0 million, with more than $7.0 million from AVAX staking rewards and over $4.0 million from Bitcoin mining operations, based on current digital asset prices.

"Our first quarter results underscore the early success of our enhanced model that generates increased operating cash flows resulting from our diversified revenue strategy," said Jolie Kahn, Chief Executive Officer of AVAX One. "Avalanche ranks among the most high-performing and scalable blockchain ecosystems worldwide, delivering compelling yields supported by structural scarcity from its capped supply and transaction fee burns. AVAX One was designed as the preeminent public gateway providing investors with direct, leveraged exposure to Avalanche's continued expansion. By staking over 90% of our AVAX tokens, we generate a steady annualized yield of approximately 6%. This approach enables us to compound AVAX per share and establish a scalable, recurring revenue foundation linked to the long-term development of the Avalanche ecosystem and the increasing institutional embrace of digital assets."

The Company continues to expand its development of the physical infrastructure required for digital compute, which is in high demand. AVAX One recently announced a Letter of Intent to develop a 10 MW Tier 3-ready powered land site in Alberta that utilizes natural gas generation behind-the-meter and is targeting Q1 2027 readiness. This investment allows the Company to own one of the critical constraints facing AI/HPC data center development: access to consistent power. The micro-grid, modular data center design powered by existing natural gas is in demand because of significantly shorter deployment timeframe, lower capital commitments, and ability to scale. Ultimately, this dual strategy positions AVAX One as one of the only publicly traded companies to own access to the scarce resources that are driving the future of digital finance and AI development.

Full Year 2026 Guidance

The Company is reiterating its previously issued guidance:

*($ in Millions USD)*	Current Spot Price¹	2025 Avg. Price²	2025 High Price³
Revenue	$11M - $12M	$24M - $25M	$43M - $44M
Change vs. prior year period	~5x	~10x	~19x
EBITDA⁴	$2M - $3M	$10M - $11M	$24M - $25M

About AVAX One Technology Ltd.

AVAX One Technology Ltd. (NASDAQ:AVX) is the first publicly traded Avalanche Treasury company, building the premier institutional gateway to the onchain financial economy powered by the Avalanche blockchain network. Through AVAX accumulation, onchain yield, and strategic acquisitions, the Company aims to compound long-term value for its shareholders while supporting the growth of the Avalanche ecosystem. Led by a team of veterans from institutional finance and public company backgrounds and advised by leaders from across the digital asset industry, AVAX One is being built to be a scalable, regulated gateway for public market investors to participate in the growth of the onchain economy. For more information, 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

Reconciliation of GAAP and Non-GAAP Information

($ in Millions, unaudited)

Full Year 2026 Guidance Scenarios

*($ in millions)*		Current Spot Price		2025 Avg. Price		2025 High Price
Revenue	$	11.4	$	24.2	$	43.3
Total operating expenses		10.6		14.9		20.3
Operating income		0.9		9.4		23.0
Other expenses		0.8		0.8		0.8
Net income from continuing operations		0.1		8.6		22.3
EBITDA Adjustments:
Depreciation and amortization		1.3		1.3		1.3
Accretion of interest on debentures		0.8		0.8		0.8
EBITDA		2.2		10.7		24.3

¹ Assumes Bitcoin price of ($70,000.00) and Avalanche price of ($9.00).

² Assumes Bitcoin price of ($101,877.40) and Avalanche price of ($22.43).

³ Assumes Bitcoin price of ($124,720.00) and Avalanche price of ($44.10).

⁴ The tables at the end of this press release provide a reconciliation of non-GAAP financial measures to the Company's expected results in accordance with GAAP. (See "Reconciliation of GAAP and non-GAAP Information" below).

AVAX One Reports Preliminary First Quarter 2026 Financial Results; Reiterates Full Year 2026 Guidance