Svmuu News: According to data from BitcoinTreasuries, South Korean publicly traded company K Wave Media (KWM) has sold its entire remaining holdings of 88 BTC to repay $6 million in debt. Following the sale, the company’s Bitcoin holdings dropped to 0, and it is no longer listed among Bitcoin treasury companies.
K Wave Media had announced last year that it had secured $1 billion in Bitcoin treasury financing capacity and planned to expand its Bitcoin holdings to 10,000 as soon as possible.However, in May of this year, the company redirected its remaining financing capacity of up to $485 million from Bitcoin to AI infrastructure development, including data centers, GPU computing power, and related acquisitions.
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South Korean publicly traded company K Wave Media sold off its entire holdings of 88 BTC, thereby exiting the ranks of companies listed on Bitcoin.
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