AVAX One Technology Ltd. (NASDAQ: AVX) repurchased 500,000 common shares between May 18 and May 22, 2026, at an average price of $0.58 per share, including fees and commissions, according to a company statement.

The repurchases were part of the company's previously authorized $40 million share buyback program. Since November 2025, AVAX One has repurchased a total of 4,068,003 shares of its common stock.

"We continue to execute on our share repurchase program as a key element of our broader capital allocation strategy," said Jolie Kahn, Chief Executive Officer of AVAX One. "Since launching the program, we have been deliberate in the pace and timing of our repurchases."

The company stated that future repurchases under the program may occur through open market transactions or other permitted means under securities laws, including Rule 10b-18 under the Securities Exchange Act of 1934. The timing and amount of repurchases will depend on market conditions, capital allocation priorities, regulatory requirements and other corporate considerations.

AVAX One is not obligated to repurchase any specific number of shares, and the program may be modified, suspended or discontinued at any time without prior notice, according to the statement.

The company operates as a digital infrastructure business, building data centers in energy-advantaged regions and mining Bitcoin in Alberta and Ohio at approximately 300 PH/s. AVAX One also maintains an Avalanche digital asset treasury.