tags.
Original: "SOL Strategies, the Canadian firm that holds roughly 460,000 SOL, said it may sell part of its Solana treasury to meet obligations. As of June 30, the company had C$1.87 million in cash and about C$22 million of digital assets that aren't pledged, against C$37.33 million of current liabilities. Much of its SOL is tied up as collateral."
Translation: "SOL Strategies, perusahaan Kanada yang memiliki sekitar 460.000 SOL, mengatakan mungkin menjual sebagian dari treasury Solana-nya untuk memenuhi kewajiban. Pada 30 Juni, perusahaan memiliki kas C$1,87 juta dan sekitar C$22 juta aset digital yang tidak dijaminkan, dibandingkan dengan liabilitas lancar sebesar C$37,33 juta. Sebagian besar SOL-nya terikat sebagai agunan."
Note: "treasury" in crypto context often kept as "treasury" but could be "cadangan" but "treasury" is common. I'll use "treasury" as is, but maybe "cadangan" is more Indonesian. But since it's a specific term, I'll keep "treasury" but maybe explain. Actually, "treasury" in crypto means the company's holdings, so "aset" or "cadangan" is fine. I'll use "treasury" as it's common in Indonesian crypto circles. But for naturalness, maybe "cadangan Solana" is better. Let's see: "may sell part of its Solana treasury" -> "mungkin menjual sebagian dari cadangan Solana-nya" but "treasury" is often left. I'll use "treasury" to keep the nuance. I'll translate as "treasury Solana" but in Indonesian it's okay.
Actually, I'll use "treasury" as is, because it's a financial term. But maybe "aset" is simpler. Let's use "cadangan" but "treasury" is also acceptable. I'll keep "treasury" for consistency.
Now second paragraph: "The debt stack" -> "Tumpukan utang" or "Struktur utang". I'll use "Tumpukan utang" but "stack" means pile, so "Tumpukan utang" is fine.
Paragraph: "Current liabilities break down into several pieces. There's C$3.31 million in accounts payable, a C$7.75 million note from the HoudiniSwap acquisition, C$784,000 owed to a vendor, and C$865,000 in a current acquisition holdback. The company also borrowed C$13.90 million via Kamino Finance and carries C$10.73 million in current convertible debentures. Repayment schedules vary: trade payables are due within 30 days, the Houdini note matures Dec. 1, the holdback splits between 9 and 18 months, Kamino has no fixed maturity, and the debentures extend to 2028/2030."
Translation: "Liabilitas lancar terdiri dari beberapa bagian. Ada C$3,31 juta dalam utang usaha, wesel C$7,75 juta dari akuisisi HoudiniSwap, C$784.000 yang terutang kepada pemasok, dan C$865.000 dalam penahanan akuisisi saat ini. Perusahaan juga meminjam C$13,90 juta melalui Kamino Finance dan memiliki C$10,73 juta dalam obligasi konversi lancar. Jadwal pembayaran bervariasi: utang dagang jatuh tempo dalam 30 hari, wesel Houdini jatuh tempo pada 1 Desember, penahanan terbagi antara 9 dan 18 bulan, Kamino tidak memiliki jatuh tempo tetap, dan obligasi berlanjut hingga 2028/2030."
Note: "holdback" is "penahanan" or "dana ditahan". I'll use "penahanan akuisisi". "current acquisition holdback" -> "penahanan akuisisi lancar" but "lancar" is current, but in this context it's a liability, so "penahanan akuisisi" is fine.
"Kamino Finance" keep as is.
"convertible debentures" -> "obligasi konversi" or "wesel konversi" but "debentures" is "obligasi" but in Indonesian, "obligasi konversi" is common. I'll use "obligasi konversi".
Now, "The Kamino pledge" heading -> "Jaminan Kamino" or "Agunan Kamino". "Pledge" means collateral, so "Jaminan Kamino" is good.
Paragraph: "More than half of the SOL holdings are tied to borrowing. SOL Strategies has 252,851 SOL, worth C$26.4 million at quarter-end, pledged to Kamino against C$13.9 million of debt. That arrangement carries a risk: Kamino can auto-liquidate if the loan-to-value ratio hits 75%, which would increase exposure to a SOL decline. After accounting for the Kamino borrowing, the digital assets provided roughly C$34 million in net liquidity."
Translation: "Lebih dari separuh kepemilikan SOL terikat dengan pinjaman. SOL Strategies memiliki 252.851 SOL, senilai C$26,4 juta pada akhir kuartal, dijaminkan ke Kamino dengan utang C$13,9 juta. Pengaturan tersebut mengandung risiko: Kamino dapat melakukan likuidasi otomatis jika rasio pinjaman terhadap nilai (loan-to-value) mencapai 75%, yang akan meningkatkan eksposur terhadap penurunan SOL. Setelah memperhitungkan pinjaman Kamino, aset digital tersebut menyediakan likuiditas bersih sekitar C$34 juta."
Note: "loan-to-value" is often kept as is, or "rasio pinjaman terhadap nilai" is okay. I'll keep "loan-to-value" in parentheses.
Next: "How it plans to pay" -> "Cara perusahaan membayar" or "Rencana pembayaran". I'll use "Rencana pembayaran".
Paragraph: "The liquidity plan includes cost reductions, revenue from staking, validators, and HoudiniSwap, selective SOL sales, securities issuance, and potential borrowing via an ATW convertible note. Management said available cash, crypto, and other resources are sufficient for at least 12 months. The company already sold 65,001 SOL on June 8 at an average of C$87.88, generating about C$5.75 million to repay debt. It also raised C$2.14 million through an at-the-market equity program, and holders converted US$2.85 million of ATW debt into about 1.78 million shares during the nine months."
Translation: "Rencana likuiditas termasuk pengurangan biaya, pendapatan dari staking, validator, dan HoudiniSwap, penjualan SOL secara selektif, penerbitan surat berharga, dan potensi peminjaman melalui wesel konversi ATW. Manajemen menyatakan bahwa kas yang tersedia, kripto, dan sumber daya lainnya cukup untuk setidaknya 12 bulan. Perusahaan telah menjual 65.001 SOL pada 8 Juni dengan harga rata-rata C$87,88, menghasilkan sekitar C$5,75 juta untuk melunasi utang. Perusahaan juga mengumpulkan C$2,14 juta melalui program ekuitas at-the-market, dan para pemegang wesel mengkonversi utang ATW senilai US$2,85 juta menjadi sekitar 1,78 juta saham selama sembilan bulan."
Note: "at-the-market" is a term, I'll keep it as is. "equity program" -> "program ekuitas". "holders" -> "pemegang" (in context, holders of convertible debt, so "pemegang" is fine).
Next: "The nine-month loss" -> "Kerugian sembilan bulan" or "Kerugian sembilan bulan". Use "Kerugian sembilan bulan".
Paragraph: "SOL Strategies reported a C$119.36 million net loss for the nine months through June. That includes C$61.95 million in digital-asset revaluation losses, C$22.82 million in realized crypto losses, and C$16.11 million in impairment charges. The company used C$
