AVAX One begins CEO search after exit

• AVAX One (NASDAQ:AVX) appointed Chief Operating Officer Pete Wylie as interim CEO after Jolie Kahn stepped down immediately.
• AVX shares rose 5.13% to US$5.63, while Avalanche (CRYPTO:AVAX) traded 1.89% lower at US$6.73.
• The leadership change comes as AVAX One continues building its Avalanche treasury strategy amid weaker AVAX prices.

AVAX One (NASDAQ:AVX) appointed Chief Operating Officer Pete Wylie as interim chief executive after Jolie Kahn stepped down by mutual agreement, with the company beginning a search for a permanent CEO.

The leadership transition follows the company's shift from AgriFORCE to an Avalanche-focused digital asset treasury business, with plans announced in September 2025 to raise about US$550 million and build more than US$700 million in Avalanche (CRYPTO:AVAX) holdings.

“We have full confidence in Pete’s ability to lead the Company through this transition,” said AVAX One Chairman Matt Zhang.

The company said ZRG Partners has been retained to lead the CEO search, while Kahn will receive a US$160,000 lump-sum payment, reimbursement for certain medical insurance costs and US$250,000 in unregistered common shares, and Wylie will receive US$40,000 per month while serving as interim CEO.

AVAX One said its business includes digital infrastructure, Bitcoin mining and an Avalanche treasury, and following the announcement the AVAX One share price was up 5.13% at US$5.63.

The company operates Bitcoin mining facilities in Alberta and Ohio with about 300 PH/s of hashrate, while also holding AVAX tokens and seeking additional returns through staking and ecosystem participation.

The leadership change comes as weaker AVAX prices continue to pressure publicly listed Avalanche treasury companies, with AVAX trading near US$6.73 and investor demand for altcoin treasury stocks remaining under scrutiny.

At the time of reporting, Avalanche price was $6.75.