Mill City Reports Second Quarter 2025 Results; Provides Update on SUI Treasury Strategy Launched on July 31, 2025
Mill City Ventures (NASDAQ: MCVT) reported Q2 2025 results and provided updates on its new SUI treasury strategy. The company achieved total investment income of $948,000 (up 7% YoY) and net income of $677,000 ($0.11 per share, up 64% YoY) from its legacy lending business.
On July 31, 2025, Mill City launched the first publicly traded, Foundation-backed SUI treasury strategy, raising $450 million through a PIPE offering. The company has accumulated 81.9 million SUI tokens as of August 10, 2025, generating approximately $26,000 daily through staking. The strategy is supported by an exclusive partnership with the Sui Foundation and managed by Galaxy Asset Management.
The company appointed Karatage co-founders Marius Barnett as Chairman and Stephen Mackintosh as CIO, maintaining its existing lending business while positioning itself as the largest publicly traded SUI treasury.
Mill City Ventures (NASDAQ: MCVT) ha comunicato i risultati del secondo trimestre 2025 e fornito aggiornamenti sulla nuova strategia di tesoreria in SUI. La societ脿 ha registrato ricavi totali da investimenti per 948.000 dollari (in aumento del 7% su base annua) e un utile netto di 677.000 dollari (0,11$ per azione, +64% su base annua) derivante dal suo business di prestito tradizionale.
Il 31 luglio 2025 Mill City ha lanciato la prima strategia di tesoreria in SUI quotata pubblicamente e supportata dalla Foundation, raccogliendo 450 milioni di dollari tramite un鈥檕fferta PIPE. Al 10 agosto 2025 la societ脿 aveva accumulato 81,9 milioni di token SUI, che generano circa 26.000 dollari al giorno tramite staking. La strategia 猫 sostenuta da una partnership esclusiva con la Sui Foundation e gestita da Galaxy Asset Management.
La societ脿 ha nominato i cofondatori di Karatage, Marius Barnett come Presidente e Stephen Mackintosh come CIO, mantenendo l鈥檃ttivit脿 di prestito esistente e posizionandosi come la pi霉 grande tesoreria SUI quotata in borsa.
Mill City Ventures (NASDAQ: MCVT) present贸 los resultados del segundo trimestre de 2025 y dio novedades sobre su nueva estrategia de tesorer铆a en SUI. La compa帽铆a logr贸 ingresos totales por inversiones de 948.000 d贸lares (un 7% m谩s interanual) y un beneficio neto de 677.000 d贸lares (0,11$ por acci贸n, +64% interanual) procedente de su negocio de pr茅stamos heredado.
El 31 de julio de 2025 Mill City lanz贸 la primera estrategia de tesorer铆a en SUI cotizada p煤blicamente y respaldada por la Foundation, recaudando 450 millones de d贸lares mediante una oferta PIPE. A 10 de agosto de 2025 la compa帽铆a hab铆a acumulado 81,9 millones de tokens SUI, que generan aproximadamente 26.000 d贸lares diarios por staking. La estrategia cuenta con una asociaci贸n exclusiva con la Sui Foundation y es gestionada por Galaxy Asset Management.
La empresa nombr贸 a los cofundadores de Karatage, Marius Barnett como Presidente y Stephen Mackintosh como CIO, manteniendo su negocio de pr茅stamos existente y posicion谩ndose como la mayor tesorer铆a SUI cotizada p煤blicamente.
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Mill City電� 2025雲� 7鞗� 31鞚� 鞛嫧(Foundation)鞚� 歆�鞗愴晿電� 斓滌磮鞚� 靸侅灔 SUI 鞛鞝勲灥鞚� 於滌嫓頃橃棳 PIPE 瓿惦毳� 韱淀暣 4鞏�5觳滊 雼煬毳� 臁半嫭頄堨姷雼堧嫟. 2025雲� 8鞗� 10鞚� 旮办 須岇偓電� 81.9氚彪 SUI 韱犿伆鞚� 氤挫湢頃橁碃 鞛堨溂氅� 鞀ろ厡鞚错偣鞙茧 頃橂（ 鞎� 26,000雼煬毳� 靸濎劚頃橁碃 鞛堨姷雼堧嫟. 鞚� 鞝勲灥鞚� Sui Foundation瓿检潣 霃呾爯 韺岉姼雱堨嫮鞚� 氚旐儠鞙茧 Galaxy Asset Management臧� 鞖挫毄頃╇媹雼�.
須岇偓電� Karatage 瓿惦彊彀届梾鞛� 毵堧Μ鞖办姢 氚旊劮(Marius Barnett)鞚� 鞚橃灔鞙茧, 鞀ろ嫲敫� 毵ろ偍韱犾嫓(Stephen Mackintosh)毳� 斓滉碃韴瀽毂呾瀯鞛�(CIO)搿� 鞛勲獏頄堨溂氅�, 旮办〈 雽�於� 靷梾鞚� 鞙犾頃橂┐靹� 靸侅灔霅� 斓滊寑 攴滊鞚� SUI 鞛氤挫湢瓿犽 鞛愲Μ毵り箑頃橁碃鞛� 頃╇媹雼�.
Mill City Ventures (NASDAQ: MCVT) a publi茅 ses r茅sultats du deuxi猫me trimestre 2025 et donn茅 des pr茅cisions sur sa nouvelle strat茅gie de tr茅sorerie en SUI. La soci茅t茅 a r茅alis茅 un produit d鈥檌nvestissement total de 948 000 $ (en hausse de 7 % en glissement annuel) et un r茅sultat net de 677 000 $ (0,11 $ par action, +64 % en glissement annuel) issu de son activit茅 de pr锚ts traditionnelle.
Le 31 juillet 2025, Mill City a lanc茅 la premi猫re strat茅gie de tr茅sorerie SUI cot茅e en bourse et soutenue par la Foundation, levant 450 millions de dollars via une op茅ration PIPE. Au 10 ao没t 2025, la soci茅t茅 avait accumul茅 81,9 millions de tokens SUI, g茅n茅rant environ 26 000 $ par jour gr芒ce au staking. La strat茅gie est soutenue par un partenariat exclusif avec la Sui Foundation et g茅r茅e par Galaxy Asset Management.
La soci茅t茅 a nomm茅 les cofondateurs de Karatage, Marius Barnett comme pr茅sident et Stephen Mackintosh comme CIO, tout en conservant son activit茅 de pr锚t existante et en se positionnant comme la plus grande tr茅sorerie SUI cot茅e en bourse.
Mill City Ventures (NASDAQ: MCVT) hat die Ergebnisse f眉r das zweite Quartal 2025 ver枚ffentlicht und Informationen zu seiner neuen SUI-Treasury-Strategie bekanntgegeben. Das Unternehmen erzielte Gesamtanlageertr盲ge von 948.000 USD (plus 7% im Jahresvergleich) und ein Nettoeinkommen von 677.000 USD (0,11 USD je Aktie, +64% im Jahresvergleich) aus seinem traditionellen Kreditgesch盲ft.
Am 31. Juli 2025 startete Mill City die erste b枚rsennotierte, von der Foundation unterst眉tzte SUI-Treasury-Strategie und sammelte 450 Millionen USD durch ein PIPE-Angebot. Zum 10. August 2025 hatte das Unternehmen 81,9 Millionen SUI-Token akkumuliert, die durch Staking rund 26.000 USD t盲glich generieren. Die Strategie wird durch eine exklusive Partnerschaft mit der Sui Foundation unterst眉tzt und von Galaxy Asset Management verwaltet.
Das Unternehmen ernannte die Karatage-Mitgr眉nder Marius Barnett zum Vorsitzenden und Stephen Mackintosh zum CIO, behielt sein bestehendes Kreditgesch盲ft bei und positioniert sich als die gr枚脽te b枚rsennotierte SUI-Treasury.
- Significant 64% YoY increase in net income to $677,000 in Q2 2025
- Successfully raised $450 million through PIPE offering for SUI strategy
- Exclusive partnership with Sui Foundation providing strategic advantages
- Generating $26,000 daily revenue through SUI staking
- 7% YoY growth in total investment income to $948,000
- Reduction in operating expenses from $398,000 to $316,000 YoY
- NAV per share increased to $3.34 from $3.09 in six months
- Slight decrease in investments, cash and equivalents to $19.4M from $19.5M
- High concentration risk with primary focus on single cryptocurrency (SUI)
- Significant business model shift from traditional lending to crypto treasury
Insights
Mill City transforms into largest public SUI holder with 81.9M tokens, creating regulated crypto exposure while maintaining lending business.
Mill City Ventures has executed a strategic pivot by launching the first publicly traded, Foundation-backed SUI treasury strategy. The company has rapidly accumulated 81.9 million SUI tokens as of August 10, 2025, establishing itself as the largest publicly traded SUI treasury. This positions Mill City as a novel regulated vehicle for investors seeking exposure to the SUI blockchain ecosystem.
What makes this strategy particularly unique is the exclusive arrangement with the Sui Foundation, providing Mill City with privileged access to negotiated token purchases and ecosystem insights that aren't available to other market participants. The company successfully raised
The SUI blockchain itself represents a critical technological development with its horizontally scalable architecture and object-centric design. Unlike many layer-1 blockchains struggling with scalability, SUI was specifically engineered to handle real-world transaction volumes across finance, gaming, AI, and stablecoins.
Mill City is generating passive income by staking its entire SUI treasury, currently earning approximately
Importantly, this strategic shift doesn't replace Mill City's existing lending business, which showed healthy performance with a
Mill City shows strong 64% growth in net assets while transforming into a hybrid lending/crypto business with massive SUI position.
Mill City's Q2 2025 results reveal a company successfully executing a transformative strategy while maintaining solid performance in its core lending business. Their short-term non-bank lending operations delivered
This operational leverage drove a remarkable
Beyond these solid financial metrics, Mill City has executed a dramatic strategic expansion. The
The daily staking revenue of
With strong institutional backing, exclusive Sui Foundation partnership, and the technical expertise of Karatage's leadership, Mill City has positioned itself as a unique publicly-traded cryptocurrency treasury with built-in yield generation, while maintaining its profitable legacy lending business.
Total SUI Holdings of 81.9 Million as of August 10, 2025, Underscoring Mill City鈥檚 Market Leadership
WAYZATA, Minn., Aug. 14, 2025 (GLOBE NEWSWIRE) -- Mill City Ventures III, Ltd.聽(鈥淢ill City鈥� or the 鈥淐ompany鈥�) (NASDAQ: MCVT) today announced financial and operating results for the three months ended June 30, 2025, from its legacy commercial short-term non-bank lending and specialty finance business. The Company is also providing an update on recent developments, including its launch of the first publicly traded, Foundation-backed SUI treasury strategy on July 31, 2025, and subsequent events. The Company intends to continue its existing commercial short-term non-bank lending and specialty finance business.
Since launching the industry鈥檚 first SUI treasury strategy, under which the principal holding in Mill City鈥檚 treasury reserve on the balance sheet will be allocated to the native cryptocurrency of the Sui blockchain (commonly referred to as 鈥淪UI鈥�), Mill City has established itself as the largest publicly traded SUI treasury, backed by an exclusive relationship with the Sui Foundation. The Sui Foundation is an independent organization dedicated to the advancement and adoption of the SUI network. The Company is executing on this opportunity by acquiring SUI tokens through open-market purchases, exclusive institutional-grade deal flow typically reserved for crypto funds, and a negotiated purchase agreement with the Sui Foundation 鈥� a strategy now accessible to a larger cohort of investors through a regulated publicly traded structure. As the only SUI treasury with foundation support, Mill City believes it is uniquely positioned to share insights on technology trends and ecosystem growth, while providing regulated, liquid, and institutional-grade access to one of the most scalable blockchains designed for global adoption.
SUI is a next-generation Layer 1 blockchain designed to deliver the scalability, speed, and security required to power decentralized applications and real-world crypto use cases across finance, gaming, artificial intelligence, stablecoins, and more. Its horizontally scalable architecture, low-latency finality, and secure, developer-friendly design, position it as a leading infrastructure platform capable of handling real-world scale. As institutional and consumer adoption accelerates, SUI offers the potential to enable a wide range of transformative digital experiences and create long-term value opportunities for Mill City and its shareholders.
鈥淲e believe that SUI represents the infrastructure layer for the next chapter of the internet 鈥� a high-speed, secure, and scalable blockchain designed to bring mass market, consumer applications into Web3,鈥� said Stephen Mackintosh, Chief Investment Officer of Mill City and Co-Founder of Karatage. 鈥淚ts object-centric architecture and Move programming language are designed to position SUI to transform how assets, applications, and data move through the global economy. As institutional and consumer adoption accelerates, we believe SUI will become a foundational layer of the modern financial system, enabling new products, markets, and efficiencies that weren鈥檛 possible before.鈥�
Recent Operational Highlights Since Launch of SUI Treasury Strategy
- Named Marius Barnett and Stephen Mackintosh, Co-Founders of Karatage Opportunities (鈥淜aratage鈥�), as Chairman of the Board and Chief Investment Officer, respectively. Karatage, a London-based hedge fund specializing in digital assets and emerging technology, was the lead investor in the
$450 million private placement alongside an equivalent investment from the Sui Foundation. - Established an exclusive arrangement with the Sui Foundation, an independent organization dedicated to the advancement and adoption of the SUI network, providing direct access to negotiated SUI token purchases, proprietary ecosystem insights, and participation in strategic network growth initiatives.
- Raised
$450 million in capital as of August 1, 2025, through PIPE offering. - Appointed Galaxy as Asset Management to manage the Company鈥檚 SUI treasury, delivering institutional-quality execution, liquidity, and tailored staking strategies.
- Scaled total treasury holdings to 81,871,794 SUI as of August 10, 2025.
- Currently staking all SUI in the treasury earning approximately
$26,000 per day.
Mackintosh continued, 鈥淢ill City is building a differentiated, foundation-backed treasury strategy to accumulate, activate, and scale the largest SUI position in the public markets. We are committed to long-term ownership, transparent reporting, and disciplined purchasing through institutional-grade deal flow, open-market purchases, and strategic agreements with the Sui Foundation. By anchoring our treasury to SUI, we aim to increase SUI-per-share and deliver lasting value for our shareholders, while providing public market investors with a regulated, transparent, and liquid way to participate in what we believe to be one of the most promising blockchain ecosystems in the world.鈥�
Q2 2025 Financial Summary (vs. Q2 2024)
Highlights from the Company鈥檚 results for the second quarter of 2025 from its existing commercial short-term non-bank lending and specialty finance business were as follows:
- Total Investment Income: Total investment income for the second quarter of 2025 increased
7% to approximately$948,000 compared to$889,000 in Q2 2024. - Total Operating Expenses: Total operating expenses in Q2 2025 were approximately
$316,000 compared to$398,000 in Q2 2024. - Net Increase in Net Assets Resulting from Operations/EPS: Net increase in net assets resulting from operations increased
64% to approximately$677,000 , or$0.11 per basic and diluted share compared to$413,000 , or$0.06 per basic and diluted share in Q2 2024. - Investments, Cash and Cash Equivalents: As of June 30, 2025, the Company had investments, cash and cash equivalents of
$19.4 million , as compared to$19.5 million as of December 31, 2024. - Net Asset Value Per Common Share: Net asset value per common share increased to
$3.34 as of June 30, 2025, compared to$3.09 at December 31, 2024.
About Mill City Ventures III, Ltd.
Mill City Ventures III, Ltd. is the only publicly traded company with an official Sui Foundation relationship, providing institutional-grade exposure to the SUI blockchain. Through its industry-first SUI treasury strategy, Mill City is building a premier, foundation-backed digital asset treasury platform designed for scale, transparency, and long-term value creation. SUI鈥檚 high-speed, horizontally scalable architecture positions it as one of the leading blockchains designed for mass adoption, powering next-generation applications in finance, gaming, AI, and beyond. The Company plans to continue its specialty finance operations while executing its SUI-treasury strategy. For more information, please visit .
Forward Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations, or intentions regarding the future. For example, the Company is using forward-looking statements when it discusses the anticipated use of proceeds. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, risks inherent with investing in SUI, including SUI鈥檚 volatility, the risks of implementing a new treasury diversification strategy, SUI鈥檚 capabilities as a blockchain and the opportunities SUI creates, the belief that the new Board members will provide strong and experienced leadership to the Company, the competitive environment of the Company鈥檚 business among others, the inherent uncertainties associated with business strategy, potential acquisitions, revenue guidance, product development, integration, and synergies of acquiring companies and personnel. These forward-looking statements are made as of the date of this release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward- looking statements. Although we believe that the beliefs, plans, expectations, and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Investor Relations Contact
Sean Mansouri, CFA or Aaron D鈥橲ouza
Elevate IR
(720) 330-2829
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