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

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