Bitcoin treasury company K Wave Media secures $485 million in funding to transform into AI infrastructure.

CoinFeed reported on May 4th that, according to Globenewswire, Nasdaq-listed Bitcoin treasury company K Wave Media announced a series of strategic transformation initiatives, including securing up to $485 million in capital to build an AI infrastructure platform, focusing on data center investments, GPU computing power leasing, and mergers and acquisitions and partnerships for key AI infrastructure. In addition, the company has approved the sale of its wholly-owned subsidiary, Play Co., Ltd., to existing shareholders. This transaction is expected to reduce debt by approximately $48 million, but still requires shareholder approval at the annual meeting in July 2026.