This public company quit solar for a $5 million Bitcoin bet, now it has just $166,000 in cash
Sono Group’s post-spinout business is under severe liquidity pressure. With its solar subsidiary discontinued, it reported zero revenue in the first half of 2026 and held only $166,000 in cash at June 30, versus $4.11 million in Bitcoin. It spent $5 million to buy 68.49 BTC, ending the period with 69.78 BTC valued at $4.118 million, but still recorded an $890,000 digital-asset treasury loss. To raise cash, management sold weekly covered calls on the Bitcoin holdings, generating $93,000 in net option income, but that may not cover obligations. The company posted a $5.792 million first-half net loss and relied on $7.05 million of financing, including secured convertible debentures and a pre-funded warrant. Sono says it may seek more debt or equity capital, and may need to partially sell Bitcoin if other funding is unavailable.
