In a strategic pivot, K Wave Media (KWM), a Korean media and entertainment company listed on Nasdaq, announced Monday that it will reallocate up to $485 million from its planned bitcoin treasury investment into AI infrastructure. This decision was communicated in a filing with the U.S. Securities and Exchange Commission.
The funds are set to be invested in data centers, GPU computing operations, and various acquisitions within the AI sector, following an updated agreement with Anson Funds, a structured equity financier. Initially, the $500 million facility established in June 2025 was intended for bitcoin purchases, aiming to boost K Wave’s market position during a period when such announcements positively influenced stock prices.
However, less than a year later, this strategy has been abandoned due to emerging momentum in another sector. This shift led to a drop of 24% in K Wave shares by Monday’s close, with an additional 4% decline in premarket trading on Tuesday.
Ted Kim, the company’s Chief Executive, described the move as a strategic effort to become “a meaningful participant in the rapidly growing AI infrastructure sector.” Plans include developing a scalable platform encompassing compute and related technologies. Furthermore, K Wave is considering rebranding itself to “Talivar Technologies,” pending shareholder approval at an upcoming annual meeting.
This development reflects a broader trend observed over recent months. As reported by CoinDesk in March, several publicly listed bitcoin miners have shifted their focus towards AI and high-performance computing. This shift involved signing contracts worth more than $70 billion collectively and reducing their bitcoin holdings significantly to finance these new ventures. Notably, Core Scientific sold about 1,900 BTC for $175 million in January, Bitdeer emptied its treasury in February, and Riot Platforms offloaded 1,818 BTC valued at $162 million in December.
This transition was driven by necessity, as the average cash cost to mine a bitcoin among publicly listed miners reached approximately $79,995 during Q4 2025. In contrast, bitcoin prices hovered below this figure for most of 2026. Meanwhile, AI infrastructure contracts offer attractive margins above 85% with clear multi-year revenue projections.