AVAX One CEO Steps Down as Company Navigates Nasdaq Compliance Pressure
AVAX One Technology, the Nasdaq-listed digital infrastructure company trading under AVX, disclosed in an SEC 8-K filing that CEO Jolie Kahn resigned on July 3. COO Pete Wylie has been appointed interim CEO. The company said the departure was mutually agreed and was not related to disagreements over operations, policy, or practices. Under the separation agreement, Kahn will receive a one-time cash payment of $160,000 and common stock valued at $250,000. The board has also engaged global executive search firm ZRG Partners to identify a permanent successor. The leadership transition comes as AVAX One continues to face Nasdaq compliance pressure after previously receiving notice that its share price had fallen below the $1 minimum bid requirement. Shareholders approved a 1-for-12 reverse stock split on May 29, which became effective on June 15. AVAX One’s business includes roughly 300 PH/s of Bitcoin mining capacity in Alberta and Ohio, an AVAX treasury strategy generating staking yield, and modular data center development focused on AI and high-performance computing.







