CoinDesk 20 performance update: index jumps 1.3% as all constituents trade higher
CoinDesk2h agoUpdated 1h ago

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CoinDesk2h ago60-word brief
K Wave Media scraps massive bitcoin treasury plan to redirect $485 million to AI
K Wave Media abandoned a $500 million bitcoin treasury plan, redirecting $485 million toward AI infrastructure including data centers and GPU compute. The Nasdaq-listed Korean firm's pivot triggered a 24% share plunge, reflecting investor disappointment. The move mirrors broader bitcoin miner transitions to AI as mining costs exceed BTC prices while AI contracts offer 85%+ margins and steadier revenue streams.
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