Supernova Digital Assets, a UK-based crypto company with a treasury worth millions of pounds, is reportedly trying to secure a loan after its latest accounts showed it was running extremely low on cash. Despite holding significant Solana exposure, the firm had only about $4,000 available, underscoring the gap between digital asset wealth and day-to-day liquidity.
The company’s filings point to a difficult financial position. Borrowings were listed at £847,000 at the end of the period, while the broader debt burden was described at roughly $1.5 million. That combination has put pressure on management to find a funding solution that keeps the business operating without forcing additional sales of crypto holdings.
An unfinished lender switch appears to be central to that plan. Management reportedly sees moving to a new lender as a better option than selling more assets, suggesting the firm wants to preserve its treasury rather than reduce exposure at a potentially unfavorable time. The situation highlights how crypto-heavy balance sheets can still leave firms vulnerable when cash reserves are thin.
The case also shows the risks tied to treasury strategies built around volatile digital assets such as Solana. A company may hold a sizable crypto position on paper, but if financing is delayed and liabilities keep building, access to cash can quickly become the main challenge.
