The UK-based treasury company reported £3,000 of cash against £1.132 million of current liabilities, while seeking replacement financing to avoid further crypto sales.
Supernova Digital Assets, a UK-based crypto treasury company focused on Solana, reported a multimillion-pound digital-asset portfolio alongside a severe liquidity strain that is pushing refinancing to the center of its strategy. Unaudited results released July 30 showed £3,000 of cash against £1.132 million of current liabilities, including £847,000 of interest-bearing borrowings, while total assets stood at £2.944 million and equity at £1.812 million. At the reporting date, Supernova held 32,771 SOL valued at £2 million, 5.38 BTC valued at £302,000, and 1,065 TAO valued at £254,000. The company said replacement financing is its preferred option to limit further token sales. Its existing AMINA Bank facility, entered in March 2025, provides up to $1 million at SOFR (secured overnight funding rate) plus 8%, carries a rolling one-month maturity, and is secured by SOL. Six months earlier, audited annual results showed £113,000 of cash and £762,000 of interest-bearing borrowings. By April 30, cash had dropped by £110,000 and borrowings had increased by £85,000. Supernova said discussions with an unnamed alternative provider were advanced and aimed at lower borrowing costs and better loan-to-value terms, though it did not disclose the prospective principal, rate, collateral package, covenants, or timetable, and said completion is not assured. The company sold some SOL during the six-month reporting period, reducing staking (locking tokens to earn rewards) income. It said further digital-asset sales remain available as a liquidity source, but directors said selling at prevailing depressed valuations would not serve shareholders’ interests. Supernova reported no margin call or forced-sale deadline. Revenue fell to £72,000 from £297,000 in the comparable six-month period. The results included a £1.2 million loss after tax and a separate £2.8 million crypto fair-value loss in other comprehensive income, producing a £4 million total comprehensive loss. The fair-value remeasurement was an accounting loss and did not itself consume cash. For market context, CryptoSlate’s SOL market data showed a price of around £55.66 on July 30. If Supernova’s April quantity were unchanged, that would imply an illustrative value of about £1.82 million, though the company has not disclosed a post-April token quantity. The immediate question is whether Supernova can complete cheaper replacement financing before liquidity needs force additional asset sales.