Nasdaq-listed K-Pop-related company K Wave Media's board has approved a strategic transformation, planning to exit traditional Korean entertainment business and shift focus to AI infrastructure. The company will redirect the remaining $485 million financing from its Bitcoin treasury strategy with Anson Funds toward data centers, computing power, and key AI technology development. Additionally, K Wave has approved the sale of its largest wholly-owned subsidiary, Play Co., Ltd., back to its original owner to remove $48 million in debt from its balance sheet. Following the news, K Wave's stock plummeted nearly 25% on Monday, closing at $0.307. (Decrypt) https://(wublock123.com)/news/k-wave-media-abandons-bitcoin-treasury-for-ai-infrastructure-stock-plummets-60565