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 constructed a multimillion-pound crypto treasury, however its newest accounts expose the technique’s much less glamorous constraint: money.
An unfinished lender swap now stands between the corporate and additional token gross sales, making its reported SOL place a check of whether or not it will possibly safe cheaper funding with out letting liquidity wants dictate its treasury technique.
Supernova reported simply £3,000 of money in opposition to £1.132 million of present liabilities, together with £847,000 of interest-bearing borrowings. The Solana-focused treasury firm mentioned alternative financing is its most popular route to restrict additional crypto gross sales.
The unaudited results released July 30 confirmed whole property of £2.944 million and fairness of £1.812 million. Supernova’s holdings on 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 turns into central
Six months earlier, Supernova’s audited annual results confirmed £113,000 of money and £762,000 of interest-bearing borrowings. By April 30, money had fallen by £110,000, and borrowings had risen by £85,000. The current AMINA Bank facility, entered in March 2025, gives up to $1 million at SOFR plus 8%, has a rolling one-month maturity, and is secured by SOL.
Supernova mentioned discussions with an unnamed alternative provider have been superior, concentrating on decrease borrowing prices and improved loan-to-value phrases. Completion is not assured, and the corporate disclosed no alternative principal, fee, collateral bundle, covenants, or timetable.
Supernova offered a few of its SOL through the six-month reporting interval, decreasing staking earnings. It mentioned additional digital-asset gross sales stay obtainable as a liquidity supply, whereas administrators argued that promoting at prevailing depressed valuations wouldn’t serve shareholders’ pursuits. The firm reported no margin name or forced-sale deadline.
Revenue fell to £72,000 from £297,000 in the comparable six-month period. The current results recorded a £1.2 million loss after tax and a separate £2.8 million crypto fair-value loss in different complete earnings, producing a £4 million whole complete loss. The fair-value remeasurement was an accounting loss and didn’t itself use money.
For market context, CryptoSlate’s SOL market data confirmed a worth of round £55.66 on July 30. If Supernova’s April amount have been unchanged, that worth would give an illustrative worth of about £1.82 million. The firm has not disclosed a post-April token amount.
Supernova subsequently has two disclosed liquidity levers: full alternative financing on acceptable phrases or promote extra digital property.
At present valuations, administration has expressed a choice to protect the treasury. Whether it will possibly retain the reported SOL place now will depend on the financing talks and any treasury adjustments since April that stay undisclosed.
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