South Korea-based media and entertainment firm K Wave Media, listed on the Nasdaq exchange, has announced it will abandon its Bitcoin investment plans and redirect approximately $485 million in funding toward artificial intelligence (AI) infrastructure. The move was formally disclosed in a regulatory filing submitted to the U.S. Securities and Exchange Commission.
K Wave Media’s strategic shift
K Wave Media had originally earmarked $500 million to be allocated solely to the purchase of Bitcoin by June 2025. However, in a recent announcement, the company confirmed it will now deploy the remaining funds into investments in data centers, GPU-based computing, and AI-related technologies. This new allocation was agreed under a restructured funding deal with equity investor Anson Funds.
By taking this step, K Wave Media is aiming to bolster its presence in the capital markets by shifting its focus squarely onto artificial intelligence. This pivot is seen as a strategic response following recent volatility witnessed in the cryptocurrency sector.
Our goal is to become a leading player in the rapidly expanding AI infrastructure sector, and we are working hard to build a scalable platform in both computing power and supporting technologies, explained company CEO Ted Kim regarding the change in direction.
Additionally, the company plans to change its name to Talivar Technologies. The proposed rebranding will be submitted for shareholder approval at the general assembly scheduled at the start of July.
Major move from Bitcoin mining to AI infrastructure
K Wave Media is not alone in this transition; several publicly traded Bitcoin miners have shifted their focus toward high-performance computing and AI sectors in recent months. According to March data from CoinDesk, these firms have signed contracts exceeding $70 billion in total and liquidated over 15,000 Bitcoins to support new ventures.
In January 2025, Core Scientific sold nearly 1,900 Bitcoins for $175 million. Bitdeer fully exited its Bitcoin holdings in February. Meanwhile, Riot Platforms disposed of 1,818 Bitcoins for $162 million in December. Mounting operational costs prompted these companies to overhaul their business strategies.
By the final quarter of 2025, the average cash cost to mine one Bitcoin for publicly listed miners reached as high as $79,995. With Bitcoin’s market price often below this threshold during that period, mining firms have been pushed to seek alternative sources of revenue.
AI infrastructure promises higher profitability
Contracts for AI infrastructure now offer over 85% profitability with prospects for multi-year recurring revenue, making them highly attractive. As a result, prominent players in the crypto industry are increasingly choosing to invest in AI technologies instead of solely accumulating Bitcoin.
