AlphaTON Capital Corp. Provides Market Update on Shares and Warrants
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1 hour ago
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Should l Buy ATON?
Source: Newsfilter
- Share Overview: As of February 19, 2026, AlphaTON Capital Corp. has 23,434,588 ordinary shares outstanding, indicating the company's stability and investor confidence in its market position.
- Warrant Details: The company has 1,373,686 ordinary shares issuable upon the exercise of outstanding warrants at a weighted average exercise price of $11.62 per share, reflecting expectations for future stock price appreciation.
- Equity Incentive Plan: Under the 2021 Equity Incentive Plan, 316,111 ordinary shares are issuable upon the exercise of share options with a weighted average exercise price of $40.65 per share, highlighting the company's commitment to executive incentives.
- Restricted Share Units: The company has 5,410 ordinary shares issuable upon the vesting of restricted share units, further enhancing the long-term incentive mechanism for employees.
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Analyst Views on ATON
About ATON
AlphaTON Capital Corp., formerly Portage Biotech Inc., is a specialized digital asset treasury company. The Company is focused on building and managing a strategic reserve of The Open Network (TON) tokens and developing the Telegram ecosystem. The Company implements a treasury strategy that combines direct token acquisition, validator operations, and strategic ecosystem investments to generate sustainable returns for shareholders. Through its operations, the Company provides public market investors with institutional-grade exposure to the TON ecosystem and Telegram's billion user platform. It is also advancing therapies that target known checkpoint resistance pathways to achieve durable treatment response and improve quality of life for patients. The Company engages in the drug development process and provides strategic counsel to guide development of immunotherapy assets and asset combinations.
About the author

Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
- Share Overview: As of February 19, 2026, AlphaTON Capital Corp. has 23,434,588 ordinary shares outstanding, indicating the company's stability and investor confidence in its market position.
- Warrant Details: The company has 1,373,686 ordinary shares issuable upon the exercise of outstanding warrants at a weighted average exercise price of $11.62 per share, reflecting expectations for future stock price appreciation.
- Equity Incentive Plan: Under the 2021 Equity Incentive Plan, 316,111 ordinary shares are issuable upon the exercise of share options with a weighted average exercise price of $40.65 per share, highlighting the company's commitment to executive incentives.
- Restricted Share Units: The company has 5,410 ordinary shares issuable upon the vesting of restricted share units, further enhancing the long-term incentive mechanism for employees.
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- AI Infrastructure Revolution: Brittany Kaiser, CEO of AlphaTON Capital, announced that the deployment of H200 and B200 alongside the #OwnYourNode initiative signifies a fundamental shift in AI infrastructure ownership and operation, enabling everyday individuals to participate in the decentralized AI revolution, which is expected to significantly enhance user engagement and market competitiveness.
- Privacy-First AI Network: Cocoon AI has become the world's first large-scale privacy-first AI network on Telegram, experiencing a 340% month-over-month growth in user base, which not only elevates AlphaTON's market position in the AI sector but also lays a solid foundation for future revenue growth.
- Superapp Economy: AlphaTON is building the compute backbone of the Telegram economy, leveraging its market potential with 1 billion users, and is expected to drive the company's leadership in the rapidly evolving superapp market by providing privacy-preserving and confidential computing services.
- Strategic Investment and Market Expansion: Through strategic investments in the Telegram ecosystem, AlphaTON Capital offers institutional-grade market exposure, which is anticipated to attract more investor interest in its potential within decentralized finance and application development, thereby driving long-term growth for the company.
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- Acquisition Agreement Signed: AlphaTON Capital has executed a binding call option agreement with Immunova, allowing Immunova to acquire its wholly-owned subsidiary iOx Therapeutics, which is expected to yield over $100 million in milestone payments and single-digit royalties on future sales for AlphaTON.
- Clinical Candidate Progress: iOx's lead candidate, PORT-2, has shown promising results in clinical trials for advanced melanoma and metastatic NSCLC in the U.S. and U.K., demonstrating anti-tumor activity and enhancing AlphaTON's competitive edge in the biotechnology sector.
- Strategic Investment Opportunity: This transaction enables AlphaTON to unlock value from iOx while maintaining significant participation in its future success through equity stakes and milestone payments, further solidifying its position in the biotech industry.
- Future Development Plans: AlphaTON will continue to advance its mesothelioma program and plans to launch a new AI-driven biotech initiative within the Telegram ecosystem, aiming to maximize overall portfolio value through diversified investment strategies.
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- Projected AI Revenue Growth: AlphaTON plans to lease 504 NVIDIA B200 chips, estimating an average revenue of $4 to $6 per hour for AI developers and enterprises, which could lead to $1.2 million in monthly revenues by March 2026, significantly enhancing the company's competitive edge in the AI market.
- Financing Strategy: The company has entered into an agreement with H.C. Wainwright & Co. to sell up to $400 million of its ordinary shares from time to time, aimed at funding the development and operations of its Cocoon AI platform, demonstrating strong confidence in future growth.
- Market Reaction: ATON shares fell over 7% following the announcement of the share offering, reflecting market concerns about shareholder dilution, although some users on social media expressed optimism about a potential rebound.
- Strategic Investments: AlphaTON plans to use proceeds from the share sale for strategic acquisitions and investments to support its long-term development in decentralized AI computing, further solidifying its market position.
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- Strategic Partnership Agreement: AlphaTON Capital has signed and closed a $30 million AI compute infrastructure lease agreement, adding 504 NVIDIA B200 chips, which is expected to generate at least $1.2 million in monthly revenue starting March 2026, significantly enhancing the company's competitive edge in the AI market.
- Revenue Growth Potential: With rental rates for each B200 chip ranging from $4 to $6 per hour, the deployment of 504 chips is projected to yield $1.45 million in monthly revenue, further driving AlphaTON's AI revenue growth.
- Surging Market Demand: With over 1 billion Telegram users, the demand for AI compute technology is expected to reach $7.2 trillion by 2030, positioning AlphaTON's infrastructure to meet this market need and strengthen its market position.
- Capital Efficiency Improvement: This deployment marks a strategic shift towards capital-efficient growth for AlphaTON, enabling rapid expansion of its confidential compute capacity through operational leasing structures while maintaining financial flexibility to secure a leading position in a competitive market.
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- Deployment Announcement: Alphaton Capital has announced the deployment of 504 NVIDIA Blackwell B200 GPU computers.
- Purpose of Deployment: The deployment is aimed at enhancing infrastructure for AI market applications.
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