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KWave Redirects $485M From Bitcoin Treasury Plan to AI Infrastructure
KWave Media said it will redirect up to $485 million that had been secured for its Bitcoin treasury strategy into AI infrastructure. The Nasdaq-listed South Korean entertainment company said the money will fund data centers, GPU computing operations, and related AI investments under a modified securities purchase agreement with Anson Funds. KWave Media said the change is intended to support debt reduction and restructuring after first announcing the Bitcoin treasury strategy in 2025 as part of a capital market reorganization plan.