Definitely agree. For info, I wrote the article below looking at the exact nature of each tranche of debt.

At the time it didn't look great for them but they still had plenty of time - the main danger was rolling over each other tranche of debt and ideally not selling bitcoin at a loss if they were unable to do so (or the new borrowing terms could have been really punishing).

I think we now have our answer though since - they are able to simply issue new equity and could in theory use this to pay off debt. Or buy even more bitcoin...