K Wave Media pauses Bitcoin treasury strategy after selling all holdings and shifting to AI infrastructure
The Nasdaq-listed South Korean media company said it sold 88 BTC in April and its remaining Bitcoin on May 6, 2026 for $64.22 million as it pivots toward data centers and AI investments.
K Wave Media said it has not abandoned its Bitcoin treasury strategy but is pausing it as it shifts capital toward AI infrastructure and a data center business. In a Form F-3 filed with the SEC on June 30, the Nasdaq-listed South Korean media and entertainment company said it liquidated 88 BTC in April and sold its remaining Bitcoin holdings on May 6, 2026 for $64.22 million. The filing also said the company approved the sale of subsidiary Play Co., underscoring a broader strategic pivot away from its earlier effort to build a large corporate Bitcoin reserve and toward AI-linked infrastructure.
- Bitcoin treasury strategy: A corporate approach of holding Bitcoin on the balance sheet as a reserve asset.
- Form F-3: An SEC registration statement used by certain foreign private issuers to register securities offerings.
- data center business: Operations built around facilities that house computing infrastructure used for digital services and AI workloads.