Avalanche Treasury Co. (AVAT) has merged with Mountain Lake Acquisition Corp. (MLAC) for $675 million. The merger will help AVAT create a $1 billion treasury in AVAX coins. The deal was announced on October 1, 2025, and AVAT plans to go public on Nasdaq in 2026. The merger offers investors the opportunity to purchase AVAX at a discount.
The merger puts a value of $675 million on AVAT, which includes $460 million in existing treasury assets. This allows investors to buy AVAX at a 23% discount compared to the current market price.
Merger Details and Strategic Goals
AVAT has already acquired $200 million in AVAX from the Avalanche Foundation at a reasonable price. The company will keep these coins locked for an extended period to encourage staking and support ecosystem growth. It also enjoys an 18-month option to purchase additional tokens from the Foundation.
AVAT’s goal is to grow its treasury to $1 billion using the proceeds from the merger. The company will invest these funds in real-world assets and buy more AVAX coins. The plan aims to reinvest money back into the Avalanche ecosystem to support sustainable growth.
The investment follows AgriFORCE’s commitment of $700 million in AVAX under its new branding, AVAX One. This positions AVAT as a key option for institutions looking to invest in cryptocurrency.
AVAX Surges 2.2% Following Merger Deal
AVAT is led by CEO Bart Smith, with an advisory board comprising Emin Gün Sirer, a co-founder of Avalanche, as well as experts from Coinbase, Dragonfly, Blockworks, and Aave. Sirer expressed his excitement for the merger, stating,
“We are very pleased to welcome AVAT to the Avalanche ecosystem. I’m honored to support them as an advisor. Their participation reflects the growing sophistication and momentum shaping Avalanche’s future,” he said.
Major supporters of the merger also include Dragonfly, VanEck, FalconX, Galaxy Digital, Pantera Capital, CoinFund, and Kraken. The board will also have Rob Hadick from Dragonfly and Paul Grinberg from MLAC, highlighting the connection between traditional finance and cryptocurrency.
Following the merger announcement, AVAX’s price increased by 2.2%, an indication that the move was welcomed. The deal arrives at a time when activity on the Avalanche network is rising, indicating a positive trend for the ecosystem. The merger requires approval from regulators and is expected to be completed by early 2026. The public listing of AVAT is likely to attract more investment into the ecosystem.
Mishael Nwani | July 24, 2026
Jonathan Agozie | July 24, 2026
