AVAX One Technology (Nasdaq: AVX) has formally pivoted to a dual-track strategy combining artificial intelligence infrastructure with Bitcoin mining, announcing a significant 10MW AI/HPC microgrid project in Alberta, Canada. The company signed a Front End Engineering & Design (FEED) proposal with BlueFlare Energy Solutions for a dedicated AI and high-performance computing data center at the 4-31 Battery site, described as "one of Alberta's first dedicated micro-grid-powered AI and high-performance computing data centers."
Critically, the FEED study will proceed without any upfront capital commitment from AVAX One, relying instead on an independent review from pre-qualified international engineering firms to define technical, regulatory, and cost parameters before a final investment decision. The site offers behind-the-meter natural-gas-to-power capability, proximity to 138 kV transmission lines, and redundant fiber access, providing both cheap energy and export optionality.
To monetize available power during the build-out phase and stabilize cash flow, AVAX One has purchased 220 Bitmain Antminer S21 Pro Bitcoin miners for under $500,000. This acquisition will increase the company's total hash rate capacity in Alberta by approximately 33%, from roughly 150 petahash per second (PH/s) to more than 200 PH/s. CEO Jolie Kahn framed the initiative as aligning with "one of the most significant infrastructure-type opportunities of the coming decade," citing accelerating demand for AI compute against a backdrop of constrained power access.
The announcement arrives amid a broader industry shift where Bitcoin miners are increasingly converting capacity to host AI workloads. As detailed in related news, AI firm Anthropic secured a massive 3.5 gigawatts of next-generation Google TPU compute capacity, while public miners like Core Scientific are liquidating Bitcoin reserves to fund conversions. Hut 8 secured a 15-year, $7 billion lease backed by Google with Anthropic as the main tenant. Analysis suggests publicly traded mining firms could derive up to 70% of their revenue from AI hosting by year's end, a fundamental business model shift.
This pivot has direct consequences for the Bitcoin ecosystem. The liquidation of miner reserves adds selling pressure to the spot market, while the migration of computing power away from mining is beginning to impact network security metrics; mining difficulty recently registered a drop of 7.76%. AVAX One's strategy exemplifies the emerging hybrid model, leveraging low-cost energy and modular data center design to capture value from both power-constrained markets.
