K Wave Media scrapped its $485M Bitcoin treasury plan, pivoting to AI and triggering a 23% stock plunge and $600M market cap loss.
Key takeaways
- K Wave Media Abandons Bitcoin Treasury Plan, Shifts $485 Million to AI Infrastructure
- K Wave Media’s stock cratered 23% in early trading after the company torched its $485 million Bitcoin treasury plan and rerouted the cash into AI infrastructure. The S...
- CEO Han Soo-jin called the pivot “an urgent realignment” in a statement, arguing that AI offers “more immediate and scalable value creation for shareholders.” The Bitc...
- The company now plans to build proprietary AI models and data centers targeted at music production and fan engagement, but has not yet detailed execution timelines or ...
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Canonical source: https://mlxio.com/finance/k-pop-firm-dumps-bitcoin-ai-pivot
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