K Wave Media Plans to Raise $500 Million for Bitcoin Purchases
K Wave Media Inc. (KWM), the first Korean media alliance on Nasdaq, plans to raise up to $500 million through stock sales to fund bitcoin purchases.
- KWM aims to acquire and hold bitcoin long-term.
- The company will operate Lightning Network nodes.
- Investments will be made in bitcoin-native infrastructure for yield optimization and decentralized transaction rewards.
- KWM's stock increased by 155% in premarket trading.