Down to its last $4,000 in cash, a crypto firm holding millions in Solana is seeking a loan to survive $1.5M debt

UK-based Supernova Digital Assets has built a multimillion-pound crypto treasury, but its latest accounts expose the strategy’s less glamorous constraint: cash.

An unfinished lender switch now stands between the company and further token sales, making its reported SOL position a test of whether it can secure cheaper funding without letting liquidity needs dictate its treasury strategy.

Supernova reported just £3,000 of cash against £1.132 million of current liabilities, including £847,000 of interest-bearing borrowings. The Solana-focused treasury company said replacement financing is its preferred route to limit further crypto sales.

The unaudited results released July 30 showed total assets of £2.944 million and equity of £1.812 million. Supernova's holdings at the reporting date included 32,771 SOL valued at £2 million, 5.38 BTC valued at £302,000, and 1,065 TAO valued at £254,000.

Replacement financing becomes central

Six months earlier, Supernova's audited annual results showed £113,000 of cash and £762,000 of interest-bearing borrowings. By April 30, cash had fallen by £110,000, and borrowings had risen by £85,000. The existing AMINA Bank facility, entered in March 2025, provides up to $1 million at SOFR plus 8%, has a rolling one-month maturity, and is secured by SOL.

… Continue reading the full article at the original source below.