Overview

• Shares of AgriFORCE surged more than 200% intraday after the pivot was announced.
• The company outlined a $300 million PIPE and $250 million in equity-linked financing led by HiveMind with participation from 50+ firms, including ParaFi, Galaxy Digital, Digital Currency Group, and Kraken, subject to approvals.
• The strategy targets ownership of more than $700 million in AVAX as the firm becomes a publicly traded Avalanche-focused treasury vehicle on Nasdaq.
• HiveMind founder Matt Zhang has been nominated as chairman, Anthony Scaramucci will lead the advisory board, and Coinbase Institutional’s Brett Tejpaul is joining as an adviser.
• Key operational details remain unresolved, including whether the company will continue its existing Bitcoin-mining business.