AVAX One Repurchases 710,000 Shares After Erasing Convertible Debt

AVAX One Technology (NASDAQ: $AVX), a digital infrastructure company that holds an Avalanche (CRYPTO: $AVAX) treasury, said Tuesday it has eliminated all of its remaining convertible debt and repurchased another 710,000 of its shares in October.

The company paid off the last roughly $970,000 of convertible notes, bringing its convertible debt balance to zero. That follows the elimination of more than $14.9 million in debt during the third quarter, which AVAX One announced on Oct. 7.

According to the press release, the October buybacks were made at an average price of $5.46 per share, including fees and commissions. Cumulative repurchases since November 2025 total 1,496,761 shares, adjusted for the company’s one-for-twelve reverse stock split on June 15. About $30.4 million remains available under the $40 million program, which means roughly $9.6 million has been spent.

Interim CEO and Chief Operating Officer Pete Wylie said the company has removed “a significant financial overhang” and now has more flexibility to pursue its priorities. He added that AVAX One sees buybacks as a compelling use of capital at what it believes are attractive valuations.

AVAX One accumulates AVAX and earns onchain yield through native staking. It also operates Bitcoin (CRYPTO: $BTC) mining facilities and develops modular data centers. The company will report third-quarter results and hold a conference call on Thursday, Nov. 12, at 5 p.m. ET.

Shares of AVAX One Technology (NASDAQ: AVX) are currently trading at $4.06, down from a 52 week high of $31.80.