NASDAQ-listed company K Wave Media $KWM has raised $1 billion for its Bitcoin treasury strategy, planning to expand its holdings to 10,000 $BTC.

On Thursday, Anson Funds announced it would provide up to $500 million in financing under its convertible note agreement.

The company stated that the initial financing will involve the sale of $15 million in senior secured convertible notes and warrants to Anson Investments Master Fund and Anson East Master Fund.

K Wave Media indicated that at least 80% of the net proceeds from the sale of the notes and warrants will be used to purchase Bitcoin.

K Wave Media stated that the agreement with Anson Funds brings its total capital capacity for the treasury plan to $1 billion, having previously announced a $500 million standby equity purchase agreement with Bitcoin Strategic Reserve.

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