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Supernova Digital Assets seeks replacement financing as cash falls
The UK Solana-focused firm reported £3,000 cash, £847,000 in interest-bearing borrowings, and a £1.2 million after-tax loss plus £2.8 million crypto fair-value loss for the latest six-month period.
Supernova Digital Assets, a UK-based company with a crypto treasury including SOL and other holdings, said its latest filings highlight a tight liquidity position as it seeks replacement financing to avoid further token sales. In unaudited results released July 30, the firm reported only £3,000 of cash against £1.132 million of current liabilities, including £847,000 of interest-bearing borrowings.
The company attributed its preferred path to an unfinished lender switch, which management said is its route to obtain cheaper funding and improve loan-to-value terms, rather than relying on additional digital-asset sales. Supernova said it has an existing AMINA Bank facility entered in March 2025 that provides up to $1 million at SOFR plus 8%, with a rolling one-month maturity and SOL used as security, while discussions with an alternative, unnamed provider were advanced.
Supernova disclosed that completion of the lender switch is not assured, and it provided no details on the replacement loan package, including principal, rates, collateral terms, covenants, or timing. During the six-month period, it sold some SOL, reducing staking income, and it reported no margin call or forced-sale deadline.
Financially, Supernova reported total assets of £2.944 million and equity of £1.812 million, with revenue falling to £72,000 from £297,000 in the comparable prior period. The results showed a £1.2 million loss after tax and a separate £2.8 million crypto fair-value loss in other comprehensive income, for a £4.0 million total comprehensive loss, and the firm noted the fair-value remeasurement was an accounting loss that did not itself use cash.