The Korean media company had ambitiously announced $1 billion in financing to accumulate 10,000 bitcoin, aiming to replicate the corporate treasury strategy popularized by Michael Saylor's MicroStrategy. A recent regulatory filing confirms the firm's bitcoin holdings have now fallen to zero, marking a complete reversal of that plan. Instead of pursuing digital assets, the struggling Nasdaq-listed company is redirecting its focus toward artificial intelligence infrastructure. The pivot comes as the firm battles to maintain its stock exchange listing amid financial difficulties. The abandoned bitcoin strategy highlights the risks faced by smaller companies attempting to imitate high-profile crypto treasury approaches without the capital or operational stability to sustain them. The shift toward AI reflects a broader trend of companies chasing emerging technology narratives, though questions remain about whether the new direction will resolve the company's underlying financial and listing challenges.
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