Supernova Digital Assets, a UK-based digital asset firm, is running on fumes. The company reported just £3,000 in cash against £1.152 million of current liabilities, including £847,000 of interest-bearing borrowings, according to its latest financial statements.
Cash crunch
The firm's cash position is razor-thin. With only £3,000 on hand, Supernova can't cover even a fraction of its short-term debts. The company is actively seeking replacement financing to avoid being forced to sell its crypto holdings at what it calls “depressed valuations.”
Crypto holdings
Supernova holds a portfolio of digital assets worth roughly £2.5 million as of the reporting date. That includes 32,771 SOL (valued at £2 million), 5.38 BTC (£302,000), and 1,065 TAO (£254,000). The company already sold some SOL during the six-month period, which reduced its staking income.
Debt and financing
The firm has an existing $1 million facility from AMINA Bank, secured by SOL and priced at SOFR plus 8%. But that's not enough. Supernova is in advanced talks with an alternative lender to replace or supplement that line. The timing isn't great — the company reported a £1.2 million loss after tax and a £2.8 million crypto fair-value loss for the six months ending April 30, 2026.
Revenue slide
Revenue fell sharply to £72,000 from £297,000 in the same period a year earlier. Total assets stood at £2.944 million, with equity at £1.812 million. The company didn't name the potential new lender, but said discussions are ongoing. Whether a deal closes before the cash runs out is the open question.
