K Wave Media Unloads Entire Bitcoin Portfolio Amid Strategic Shift

K Wave Media, a Nasdaq-listed company focused on K-Pop and entertainment content, has made a significant shift in its treasury strategy. In May 2026, it sold its entire Bitcoin holdings for $64.2 million to repay a $6M debt.

This move marks a reversal from the company's initial plan to build a substantial crypto treasury operation. In 2025, K Wave Media secured $1 billion in capital capacity through two financing agreements, which included an explicit allocation of 80% of net proceeds for Bitcoin purchases.

The company acquired 88 BTC in July 2025 but later redirected its focus towards artificial intelligence infrastructure initiatives. This pivot led to the sale of all its Bitcoin holdings and a subsequent drop in shares by 24% on the day of the announcement.