K Wave Media Redirects $485M Financing Capacity From Bitcoin Plan to AI Infrastructure

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K Wave Media redirected up to $485 million in financing capacity from its Bitcoin treasury plan to AI infrastructure in a May 4 Form 6-K filing. The amended agreement with Anson Funds leaves $485 million from a prior $500 million equity facility available for data centers, GPU compute operations, and related AI investments. The move reverses K Wave Media’s June 2025 Bitcoin treasury strategy and includes a planned sale of Play Co., Ltd. that is expected to remove about $48 million in debt and contingent liabilities.

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