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.
The company said the shift forms part of a broader restructuring that also includes the planned disposition of its wholly owned subsidiary Play Co., Ltd. and the expected elimination of approximately $48 million in debt and related contingent liabilities.
Related: Strategy takes Bitcoin buying breather ahead of Q1 earnings report
The move marks a sharp strategic reversal for K Wave Media, which had only positioned itself around a Bitcoin treasury strategy in June 2025, alongside earlier initiatives tied to Korean cultural intellectual property and tokenized securities concepts.
K Wave share price down ~28% pre-market. Source: Yahoo! Finance
The company’s share price has been volatile following the announcement and was down 28.25% at the time of writing since Friday’s close, from ~$0.406 per share to ~$0.294, according to Yahoo Finance data.
Board approves shift toward AI infrastructure strategy
K Wave Media said in the filing that its board has approved a strategic repositioning toward AI infrastructure, including investments in data centers, GPU compute and acquisitions across the AI value chain.
In a statement included in the filing, chief executive officer Ted Kim said the company aims to become “a meaningful participant in the rapidly growing AI infrastructure sector,” citing plans to build a scalable platform across compute and related technologies.
The company also said it is evaluating a potential corporate rebrand, including the name “Talivar Technologies,” subject to shareholder approval at its annual meeting scheduled for early July 2026. The restructuring, including the subsidiary disposal and debt reduction, is intended to significantly de-leverage the company’s balance sheet.
Cointelegraph reached out to K Wave Media for comment, but had not received a response by publication.
Magazine: Bitcoin will not hit $1M by 2030, says veteran trader Peter Brandt
