Avalanche Treasury Co. (AVAT) is merging with Mountain Lake Acquisition Corp. (MLAC) in a $675 million deal to establish a $1 billion AVAX treasury. The merged entity plans to list on Nasdaq in 2026. The transaction includes a $200 million discounted token sale, with prominent investors like Dragonfly and Kraken backing the venture. The deal also aims to boost institutional access to Avalanche’s blockchain ecosystem.