Bitcoin treasury company K Wave Media has received up to $485 million in funding to transform its AI infrastructure business

According to GlobeNewswire, Nasdaq-listed Bitcoin treasury company K Wave Media announced the launch of a series of strategic transformation initiatives, including securing up to $485 million in capital support for building an AI infrastructure platform, focusing on data center investments, GPU computing power leasing, and mergers and collaborations in key AI infrastructure.

In addition, the company has approved the sale of its wholly-owned subsidiary Play Co., Ltd. to the original shareholders, a transaction expected to reduce debt by approximately $48 million, which still requires shareholder approval at the annual meeting in July 2026.