Crypto Treasury Firms Pivot to AI in Bid to Win Back Investors - Yahoo Finance

What the report says

Yahoo Finance, carrying a Bloomberg report by Monique Mulima, reported that several companies that previously built their investment case around holding cryptocurrencies are trying to reposition themselves around artificial intelligence after a sharp reversal in crypto-treasury stocks. The shift is meant to regain investor attention, but Bloomberg said early examples have not delivered share-price recoveries.

Among the firms cited, K Wave Media Ltd., described as a former Bitcoin accumulator now focused on data-center development, has dropped 71% since its May reboot. Lixte Biotechnology Holdings Inc. has fallen 33% since agreeing in June to merge with a battery company, while AlphaTON Capital Corp., which held alternative tokens, is down 33% since its April rebrand as Alpha Compute Corp. Bloomberg said at least a dozen digital-asset treasury firms have moved toward AI-related businesses in recent months.

The report said the downturn reflects a broader collapse in the digital-asset treasury model, in which companies raised funds or used balance sheets to buy crypto. Bitcoin was reported down 49% from its October peak and 27% for the year through July 24, while Ether was down 38% in 2026 and 62% from its August 2025 high. Bloomberg said US and Canadian DAT stocks it tracks have posted a median 43% decline this year.

The AI pivot comes as investors reward companies tied to data centers and computing infrastructure, helped by spending from large technology companies and AI startups. Lawyers quoted by Bloomberg said interest has shifted away from DAT deals toward AI-adjacent areas. The report also noted that Bitcoin miners have had more success repurposing data-center assets for AI than many treasury firms.