AVAX One signs a no‑upfront‑capex 10MW AI/HPC microgrid deal in Alberta and buys 220 S21 Pro miners, lifting hash rate 33% and formalizing a dual AI infra plus Bitcoin mining strategy.

AVAX One Technology has committed to a 10 megawatt AI and high‑performance computing microgrid data center in Alberta, Canada, tying its turnaround story to the convergence of power‑hungry AI workloads and Bitcoin mining economics. In a statement released via GlobeNewswire, the company said it has signed a Front End Engineering & Design (FEED) proposal with BlueFlare Energy Solutions for a 10MW AI/HPC micro‑grid at the 4‑31 Battery site, describing the facility as “one of Alberta’s first dedicated micro‑grid‑powered AI and high‑performance computing data centers.” The FEED will be conducted “without any upfront capital commitment from AVAX One,” relying on an independent review from one of three pre‑qualified international engineering firms to define technical, regulatory and cost parameters before a final investment decision.

10MW AI/HPC microgrid in Alberta

According to AVAX One, the 4‑31 Battery site offers behind‑the‑meter natural‑gas‑to‑power capability, proximity to 138 kV transmission lines, redundant fiber and highway access, giving the project both cheap energy and export optionality. BlueFlare CEO Landon Ruszkowski called the FEED engagement “the first formal step in what we believe will become a landmark AI infrastructure project in Alberta,” emphasizing that the study will set the foundation for a scalable, modular compute build‑out. AVAX One CEO Jolie Kahn framed the initiative in macro terms, saying, “We are launching a strategy that we believe directly aligns with one of the most significant infrastructure‑type opportunities of the coming decade. Demand for AI and high‑performance computing continues to accelerate, while access to power remains the primary bottleneck.”

Bitcoin hash as bridge cash flow

While the FEED runs in parallel with early site work, AVAX One has bought 220 Bitmain Antminer S21 Pro machines for under $500,000 to immediately monetize available power and stabilize cash flow. The company said the purchase will “increase [its] total hash rate capacity in Alberta by approximately 33%, from roughly 150 petahash to more than 200 petahash,” effectively turning the interim phase of the AI project into a Bitcoin mining expansion. A KuCoin flash note on the announcement highlighted the move as a deliberate “dual‑track strategy of ‘mining + AI computing,’” arguing that rapid monetization of stranded energy can improve the risk‑reward profile of AVAX One’s AI infrastructure build.

Dual‑track AI and mining thesis

Management is now explicitly positioning AVAX One as a hybrid AI infrastructure and Bitcoin mining platform, using low‑cost Canadian natural gas as the common input. “Our goal is to leverage behind‑the‑meter energy and modular data center design to support both AI and digital asset workloads, capturing upside from two fast‑growing, power‑constrained markets,” Kahn said, adding that the FEED structure “allows us to advance a 10MW AI/HPC opportunity without dilutive upfront capital while our mining operations generate cash flow.”