K Wave Media abandons Bitcoin treasury push for AI infrastructure

K Wave Media is redirecting up to $485 million from a Bitcoin treasury strategy into AI infrastructure, alongside debt reduction and restructuring, per a Form 6-K filing.

K Wave Media, a Nasdaq-listed media and entertainment company, said it is redirecting up to $485 million in remaining financing capacity from a Bitcoin treasury strategy into an artificial intelligence infrastructure buildout, according to a Monday 6-K filing with the US Securities and Exchange Commission (SEC).

The capital will be deployed into data centers, graphics processing unit (GPU) compute operations and related AI infrastructure investments under an amended securities purchase agreement with Anson Funds, the structured equity financing counterparty to the company.

The amendment revises a prior $500 million equity purchase facility, which had been structured to support a Bitcoin treasury strategy, leaving $485 million available for deployment into AI infrastructure initiatives, according to the filing. The Bitcoin treasury was previously announced in 2025 as part of the company’s broader capital markets repositioning.

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