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Avalanche-focused digital asset treasury company AVAX One (AVX) has approved a new $40 million stock buyback program, becoming the latest firm in the sector to rely on share repurchases to stabilize its stock price. The move comes amid intense downward pressure across digital asset markets, as well as growing concerns among investors over widening discounts between company share prices and their underlying crypto holdings.
AVAX One—formerly AgriFORCE Growing Systems—pivoted into the digital asset treasury business earlier this year. The company is guided by an advisory board that includes veteran hedge fund manager Anthony Scaramucci, who has been increasingly active in the Avalanche ecosystem. As sentiment across risk markets deteriorates, treasury firms like AVAX One are using buybacks to restore confidence and narrow the gap between market value and net asset value.
Board Approves Up to $40 Million in Share Repurchases
The company announced that its board of directors has authorized the repurchase of up to $40 million worth of its common stock. The program gives AVAX One the ability to buy shares on the open market depending on market conditions, liquidity levels, and internal capital allocation plans.
CEO Jolie Kahn said the firm expects to begin purchasing shares soon and will “continue to assess additional repurchases as conditions warrant.” The program does not specify a timeline, allowing management to act opportunistically during periods of volatility.
AVAX One’s stock price has struggled significantly in recent months. Shares remain about 70% lower than they were on the day the company announced its transition into a crypto treasury business. Thursday’s trading session showed little change in price, but analysts say the buyback authorization may help support demand in the near term.
Treasury Firms Turn to Buybacks as Discounts Widen
As crypto markets extend their multimonth downturn, digital asset treasury companies are increasingly relying on stock repurchases to strengthen investor confidence. Several firms have experienced sharp declines in their share prices, resulting in deep discounts compared to the value of their digital asset reserves.
To address this, some treasury-focused companies—such as ETHZilla and FG Nexus—have already sold portions of their crypto holdings to finance share buyback programs. Analysts say this reflects a broader shift in how crypto-native treasury firms are managing capital during periods of extreme volatility.
For AVAX One, the strategy appears aimed at both supporting its share price and reinforcing its long-term commitment to Avalanche as a core asset. The company hopes that buybacks will help reduce the discrepancy between its market capitalization and the value of the AVAX tokens it plans to acquire over time.
AVAX One’s Strategic Pivot Toward Avalanche
In September, AVAX One rebranded from AgriFORCE Growing Systems after announcing a major strategic overhaul. The company revealed plans to raise $550 million to accumulate Avalanche (AVAX) tokens gradually, positioning itself as a long-term institutional holder within the Avalanche ecosystem.
The shift was inspired by the growth of AVAX as a smart contract platform and increasing institutional interest in Avalanche-based infrastructure. With Scaramucci joining as an advisor, AVAX One aims to deploy capital into AVAX accumulation and Avalanche-related ecosystem ventures while functioning as a publicly traded digital asset treasury.
The firm’s buyback program suggests confidence in its broader strategy despite the challenging environment for digital asset stocks. AVAX One believes that stabilizing its share price will allow it to pursue acquisitions and capital raises more efficiently.
Market Conditions Add Pressure to Treasury Stocks
The broader market backdrop has been extremely challenging. Digital assets have seen pronounced volatility in recent months, driven by:
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A rapid decline in Bitcoin and altcoin prices
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Reduced liquidity across risk markets
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Increased global regulatory scrutiny
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Rising macroeconomic uncertainty
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A rotation away from high-risk technology assets
These conditions have caused many publicly listed crypto companies to trade at severe discounts relative to their underlying token holdings. This includes asset managers, miners, and treasury firms.
In this environment, stock buybacks are becoming one of the few tools companies can use to signal financial strength and attempt to support investor sentiment. Many analysts believe these programs will continue unless market conditions improve.
A Defensive but Strategic Move for AVAX One
While buybacks do not guarantee a recovery in share price, they are commonly viewed as a sign of internal confidence. With AVAX One preparing to enter the market as a major buyer of its own stock, the company hopes to strengthen its financial position and ease the concerns of shareholders who have watched valuations decline sharply this year.
As digital asset markets remain volatile, AVAX One’s buyback program underscores the growing importance of disciplined capital management among crypto-treasury companies. For now, the firm appears committed to using every tool available to support its long-term Avalanche strategy and navigate the broader market downturn.
