Anthony Scaramucci and crypto-focused Hivemind Capital are backing a new company that plans to purchase digital tokens issued on the Avalanche blockchain — the first venture of its kind.

AgriFORCE Growing Systems, originally an agriculture-tech firm that pivoted into bitcoin mining, announced it will raise around $550 million from external investors to acquire AVAX tokens. Scaramucci, the SkyBridge Capital founder and former Trump adviser, will join as head of the advisory board, helping to guide fundraising and marketing.

Hivemind, led by ex-Citigroup executive Matt Zhang, has put in what it calls a significant investment. Zhang is slated to chair the new board. Together, Scaramucci, Hivemind, and other investors will hold a controlling stake in the company, which will rebrand as AVAX One.

The Wall Street Journal (gated) carried the report.

AgriFORCE surged 134% on Monday. Bitcoin drifted a little net lower.