Bitcoin treasury company K Wave Media secures up to $485 million in funding to transition into AI infrastructure business

Odaily reported that K Wave Media, a Nasdaq-listed bitcoin treasury company, has announced a series of strategic transformation initiatives, including securing up to $485 million in capital support to build an AI infrastructure platform. The company will focus on data center investments, GPU computing power leasing, and mergers and acquisitions and partnerships related to key AI infrastructure. Additionally, the company has approved the sale of its wholly-owned subsidiary, Play Co., Ltd., to its original shareholders. The transaction is expected to reduce debt by approximately $48 million and is still subject to approval by shareholders at the annual meeting in July 2026. (Globenewswire)