K Wave Media is abandoning its high‑profile bitcoin treasury plan and recasting itself as an AI infrastructure company, backed by a potential war chest of up to $485 million and a cleaner balance sheet. 

The Nasdaq‑listed firm intends to shed its legacy media operations, erase roughly $48 million of debt and pursue a rebrand as Talivar Technologies as it chases stronger margins in data centers and GPU compute.

On Monday, K Wave said its board approved the sale of Play Co., its largest wholly owned subsidiary, back to the unit’s previous owner, a transaction expected to remove about $48 million in debt and related contingent liabilities if shareholders sign off at an…

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