According to ChainCatcher, Nasdaq-listed bitcoin treasury company K Wave Media announced on May 4 a strategic pivot to AI infrastructure, securing up to $485 million in capital support for data center investments, GPU rental services, and AI infrastructure acquisitions and partnerships.
The company also approved the sale of its wholly-owned subsidiary Play Co., Ltd. to its former shareholders, expected to reduce debt by approximately $48 million. The transaction requires shareholder approval at the company’s annual meeting scheduled for July 2026.
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