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

Here is the latest from the digital-asset markets: 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.

Market Dynamics

944 million and equity of £1. 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.

Related Reading Solana treasury company stock drops 7% after committing $4 billion to new purchases Forward Industries' plan aligns with broader corporate trend as Solana treasuries grow to 17. Sep 17, 2025 Oluwapelumi Adejumo 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. Related Reading Bitcoin’s $10 billion credit market keeps growing after its first major selloff Strategy and Strive preferred shares plunged below par in June, but record trading and Metaplanet’s Japan plans show the market is still expanding. Jul 10, 2026 Oluwapelumi Adejumo Supernova said discussions with an unnamed alternative provider were advanced, targeting lower borrowing costs and improved loan-to-value terms.

Market Impact

Completion is not assured, and the company disclosed no replacement principal, rate, collateral package, covenants, or timetable. Supernova sold some of its SOL during the six-month reporting period, reducing staking income. It said further digital-asset sales remain available as a liquidity source, while directors argued that selling at prevailing depressed valuations would not serve shareholders' interests.

The company reported no margin call or forced-sale deadline. Related Reading A US Bitcoin treasury company sold every BTC because debt and Nasdaq pressure just closed in New SEC filing ties a full BTC liquidation to debt repayment, collateral language, Nasdaq pressure and an AI pivot. Jul 2, 2026 Liam 'Akiba' Wright 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 other comprehensive income, producing a £4 million total comprehensive loss.

This shift continues to shape the digital-asset landscape, with analysts examining its near-term effects.