AgriFORCE Growing Systems, a once small agriculture technology company turned bitcoin miner, said it plans a crypto treasury strategy around the AVAX token.
AgriFORCE Targets $700m for Nasdaq AVAX Treasury Company with a Hand from “The Mooch”
23 September 2025 - 20:13 CEST
By Giles Broom
The Nasdaq-listed company plans to snatch up $700 million of the Avalanche blockchain’s native cryptocurrency, according to a statement on Monday.
Strategic advisors
The company has appointed Anthony Scaramucci – the founder of Wall Street money manager SkyBridge Capital and (briefly) a former White House communications director for Donald Trump – and Brett Tejpaul, Head of Coinbase Institutional, to lead its strategic advisory board, with other members to be revealed soon.
AgriFORCE was founded in 2017 in Vancouver, Canada as an agriculture technology company focused on controlled environment agriculture (such as greenhouses or vertical farms). The company rang the bell at the Nasdaq stock exchange in 2021 under the ticker AGRI, and later in Dec 2024, entered the Bitcoin mining space through its acquisition of a mining facility in Alberta, Canada. AgriFORCE later expanded into Ohio and began mining operations in June 2025.
Access to investments
The company describes Avalanche as a “high-speed, institutional-grade blockchain designed to be a foundational digital settlement layer for the future of finance.” Similarly to Ethereum, Avalanche can be used for the tokenization of real-world assets – a process that can make investing in physical assets more accessible to both institutions and the public. As of Tuesday, AVAX has a market capitalization of nearly $15 billion, placing it as the 13th largest cryptocurrency, according to CoinMarketCap.
AgriFORCE will, appropriately, be renamed AVAX One.
The company plans to raise roughly $550 million to help with purchasing the cryptocurrency. While AGRI is, as of Tuesday, valued at $8 million, it aims to stockpile about $700 million of Avalanche’s token. This would make AGRI the first Nasdaq-listed company to offer such exposure to AVAX, according to the company. The funding process will be led by Web3 and blockchain focused investment firm Hivemind Capital, with participation from over 50 institutional and crypto-native investors, according to the company.
Programmable blockchains
“The architecture of financial markets is changing, and programmable blockchains like Avalanche are the new foundation,” said Jolie Kahn, Chief Executive Officer of the AgriFORCE.
“Our mission is to maximize our ownership of this foundational technology, AVAX, on a per-share basis, delivering direct value to our shareholders as this new economy grows.”
Details of Scaramucci’s role are not yet known, although he will certainly bring a degree of publicity to the initiative as well as decades of TradFi acumen and a genuine enthusiasm for crypto. Nicknamed “the Mooch,” he became a vocal critic of Donald Trump after spending just 10 days in post at the White House in 2017 and has since harnessed his political panache as a regular media commentator and podcaster.
“Our vision is to build the 'Berkshire Hathaway of the on-chain financial economy,' which is the execution of a multi-year thesis that Wall Street needs a smarter, more scalable way to get exposure to institutional grade blockchain infrastructure," said Matt Zhang, Founder of Hivemind Capital, and incoming Chairman of AVAX One.
Strategy model
The crypto treasury model was pioneered by Michael Saylor’s Strategy (previously MicroStrategy), which began stockpiling Bitcoin (BTC) in the summer of 2020, offering the public, as well as institutions, the chance to gain exposure to the cryptocurrency’s price swings through the company’s shares. Early investors in the company’s initiative saw an over 2,000% return on their investment in the years that followed. Strategy still holds the title of largest public holder of Bitcoin, currently owning roughly 639,800 BTC (approximately $72 million).
Copycats of the strategy, known as digital asset treasuries, or DATs, have grown in popularity, with Bitcointreasuries.net reporting nearly 200 public and 70 private companies employing a Bitcoin treasury strategy. DATs have more recently spread to other cryptocurrencies, such as Ether (ETH) and Solana (SOL).
Altcoin DAT potential
Earlier this month, Geoff Kendrick, a digital assets analyst at Standard Chartered, predicted that ETH DATs are likely to see more traction than those of BTC, SOL, and other currencies, due to ETH’s staking mechanism which lets investors lock up their ETH to earn yield, similar to bond yields in TradFi.
Upon AgriFORCE’s announcement, the company’s stock price soared roughly 200 percent overnight, while AVAX, in just 24 hours, rose as much as 16 percent.
