en.Wedoany.com Reported - Cryptocurrency mining company Avax One will acquire a site in Canada as part of a major pivot toward artificial intelligence (AI) and high-performance computing (HPC).

Under the proposed terms, Avax will purchase the site for $2.3 million, with a target closing date of August 1. Specific details have not yet been disclosed.

Avax stated that the project will build on its existing Alberta operations and broader AI/HPC infrastructure development plan. The company noted that the site aligns with its development model, targeting "behind-the-meter" locations that support modular data center deployments.

Avax One CEO Jolie Kahn said the Bantry data station is exactly the type of asset the company is targeting: an energy-advantaged behind-the-meter site that can be developed into efficient AI and HPC computing power on an accelerated timeline. As the company advances its data center projects in Western Canada, such acquisitions allow it to build a strong portfolio of powered sites that support its infrastructure strategy without relying on traditional utility timelines. The company expects to complete due diligence and reach a final agreement in the coming weeks.

Avax, formerly known as AgriForce, describes itself as a "digital infrastructure company accelerating the transition to an on-chain financial economy." The company operates cryptocurrency mining sites for Bitcoin in Alberta and Ohio.

The company launched its Bitcoin mining operations in December 2024, acquiring its first site in Alberta, Canada. The Redwater facility, located in Sturgeon County outside Edmonton, was purchased for $1.5 million from Rivogenix Energy Corp. The site is powered by waste gas, with plans to use excess heat for agriculture.

In early 2025, Avax acquired two sites in Ohio, totaling 5MW of waste-gas-powered cryptocurrency mining capacity, near East Palestine in Columbiana County. The site hosts over 1,660 mining machines.

Last month, the company said it would convert 100kW of mining capacity at its Redwater facility to AI inference workloads as a pilot. CEO Kahn stated at the time that electricity is the scarcest resource in AI, and the company already has it. The pilot aims to answer questions from real customers and real workloads: how much more the company's electricity can earn when serving AI compared to mining Bitcoin. This is a fast, low-cost test of its entire "power-first" strategy. As long as the hardware is not serving AI, it will continue mining Bitcoin, ensuring no waste during the learning process. The results demonstrated in this trial will be directly applied to the company's new 10MW Tier 3-ready facility project in Alberta (targeting customer readiness by Q1 2027) and future projects.

Avax previously stated it plans to deploy 1.3MW of natural-gas-powered mining capacity across five sites in Alberta (two each in Hinton and Berwyn, and one in Oyen). In June 2025, the first 425kW capacity at the Berwyn site became operational.

Newbit Technology previously conducted cryptocurrency mining at a 10MW site in Bantry, Canada, near the Campus Energy natural gas processing complex close to Brooks. It is unclear whether this is the site Avax is acquiring.

Former White House Communications Director Anthony Scaramucci serves as an advisor to Avax through his company SkyBridge Capital.

Nasdaq-listed Avax, which rebranded from AgriForce last year, focuses on the Avalanche blockchain. AgriForce was previously an agricultural technology company specializing in developing and acquiring agricultural intellectual property related to plant cultivation and processing, and owned a patented greenhouse facility called Grow House. After entering the cryptocurrency space in 2024, the company began offering a "decentralized computing platform powered by mobile, off-grid, natural gas systems" through its TerraHash Digital division last year.