The West Palm Beach, Florida-based company said Nasdaq confirmed it met Listing Rule 5550(a)(2), which requires a stock's closing bid price to stay at or above $1.00 per share. Nasdaq found that AVAX One's shares closed above that threshold for 10 consecutive trading days, from June 15 through June 29, satisfying the requirement and closing the matter.
AVAX One conducted a 1-for-12 reverse stock split on June 15 to meet the compliance requirement, cutting its supply from over 92.3 million shares to just under 7.7 million shares.
"We are pleased to have regained compliance with Nasdaq's minimum bid price requirement and appreciate the trust our shareholders have placed in us throughout this process," said AVAX One Interim CEO Pete Wylie, in a statement. "With this matter now closed, we are intently focused on executing on our growth and profitability initiatives. We are moving ahead across all fronts."
Wylie shifted from chief operating officer into the role of interim CEO last week following the departure of previous CEO Jolie Kahn. The board is searching for a permanent chief executive to take over the role.
AVAX One said it’s built around three business lines: an Avalanche digital asset treasury, Bitcoin mining, and artificial intelligence infrastructure. AVAX One holds roughly 14 million AVAX tokens—valued near $95 million—staked at an approximate 6% net yield, and runs Bitcoin mining operations in Alberta, Canada, and Ohio that generate cash flow.
The company also said it is exploring AI infrastructure projects aimed at a niche it calls the "missing middle"—sites in the 5 to 50 megawatt range meant to serve enterprise inference, edge computing, and regulated industries that larger hyperscale data centers aren't designed to accommodate.
The Avalanche-focused firm’s market cap sits around $40.5 million, well below the value of its crypto assets. Avax One (AVX) shares finished the day up about 3.6% at a price of $5.43, down 70% since the start of the year.
