K Wave Media Redirects $485M From Bitcoin to AI Infrastructure
K Wave Media will redirect up to $485 million from a planned Bitcoin treasury into AI infrastructure, funding data centers, GPU compute and related investments under an amended Anson Funds agreement.
K Wave Media disclosed in a Form 6-K filed Monday with the U.S. Securities and Exchange Commission that it will redirect up to $485 million in remaining financing capacity from a planned Bitcoin treasury into artificial intelligence infrastructure.
The filing explains the amount is available after an amendment to a previously announced $500 million equity purchase facility with Anson Funds. The amended agreement reallocates $485 million for data center construction, GPU compute capacity and related AI infrastructure investments, with Anson Funds remaining the structured equity financing counterparty.
The company, listed on Nasdaq, said the board approved a strategic repositioning toward AI infrastructure that includes investments in data centers, GPU compute operations and potential acquisitions across the AI supply chain. CEO Ted Kim described the company’s aim as to become ‘a meaningful participant in the rapidly growing AI infrastructure sector’ and outlined plans to build a scalable platform across compute and related technologies.
The filing also notes that K Wave is evaluating a potential corporate name change to Talivar Technologies, subject to shareholder approval at the company’s annual meeting scheduled for early July 2026.
As part of the restructuring, K Wave plans to sell its wholly owned subsidiary Play Co., Ltd.; the company expects the disposition to remove approximately $48 million in debt and related contingent liabilities and to substantially reduce leverage on its balance sheet.
K Wave first announced a Bitcoin treasury strategy in June 2025 as part of a broader capital-markets repositioning and had pursued initiatives related to Korean cultural intellectual property and tokenized securities. The current filing does not identify specific acquisition targets or locations for planned data centers, nor does it provide detailed timelines for capital deployment.
K Wave’s shares moved sharply in pre-market trading following the filing, falling about 28% from roughly $0.406 per share to about $0.294 per share. The company did not provide additional operational schedules in the disclosure.
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