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 $26,000 daily through staking. The strategy is supported by an exclusive partnership with the Sui Foundation and managed by Galaxy Asset Management.
The company appointed Karatage co-founders Marius Barnett as Chairman and Stephen Mackintosh as CIO, maintaining its existing lending business while positioning itself as the largest publicly traded SUI treasury.
Mill City Ventures (NASDAQ: MCVT) ha comunicato i risultati del secondo trimestre 2025 e fornito aggiornamenti sulla nuova strategia di tesoreria in SUI. La società ha registrato ricavi totali da investimenti per 948.000 dollari (in aumento del 7% su base annua) e un utile netto di 677.000 dollari (0,11$ 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’offerta PIPE. Al 10 agosto 2025 la società aveva accumulato 81,9 milioni di token SUI, che generano circa 26.000 dollari al giorno tramite staking. La strategia è sostenuta da una partnership esclusiva con la Sui Foundation e gestita da Galaxy Asset Management.
La società ha nominato i cofondatori di Karatage, Marius Barnett come Presidente e Stephen Mackintosh come CIO, mantenendo l’attività di prestito esistente e posizionandosi come la più grande tesoreria SUI quotata in borsa.
Mill City Ventures (NASDAQ: MCVT) presentó los resultados del segundo trimestre de 2025 y dio novedades sobre su nueva estrategia de tesorería en SUI. La compañía logró ingresos totales por inversiones de 948.000 dólares (un 7% más interanual) y un beneficio neto de 677.000 dólares (0,11$ por acción, +64% interanual) procedente de su negocio de préstamos heredado.
El 31 de julio de 2025 Mill City lanzó la primera estrategia de tesorería en SUI cotizada públicamente y respaldada por la Foundation, recaudando 450 millones de dólares mediante una oferta PIPE. A 10 de agosto de 2025 la compañía había acumulado 81,9 millones de tokens SUI, que generan aproximadamente 26.000 dólares diarios por staking. La estrategia cuenta con una asociación exclusiva con la Sui Foundation y es gestionada por Galaxy Asset Management.
La empresa nombró a los cofundadores de Karatage, Marius Barnett como Presidente y Stephen Mackintosh como CIO, manteniendo su negocio de préstamos existente y posicionándose como la mayor tesorería SUI cotizada públicamente.
Mill City Ventures (NASDAQ: MCVT)는 2025년 2분기 실적과 새로운 SUI 재무전략에 대한 업데이트를 발표했습니다. 회사는 기존 대출 사업에서 총 투자수익 948,000달러(전년 대비 7% 증가)와 순이익 677,000달러(주당 0.11달러, 전년 대비 64% 증가)를 기록했습니다.
Mill City는 2025년 7월 31일 재단(Foundation)이 지원하는 최초의 상장 SUI 재무전략을 출시하여 PIPE 공모를 통해 4억5천만 달러를 조달했습니다. 2025년 8월 10일 기준 회사는 81.9백만 SUI 토큰을 보유하고 있으며 스테이킹으로 하루 약 26,000달러를 생성하고 있습니다. 이 전략은 Sui Foundation과의 독점 파트너십을 바탕으로 Galaxy Asset Management가 운용합니다.
회사는 Karatage 공동창업자 마리우스 바넷(Marius Barnett)을 의장으로, 스티븐 매킨토시(Stephen Mackintosh)를 최고투자책임자(CIO)로 임명했으며, 기존 대출 사업을 유지하면서 상장된 최대 규모의 SUI 재무보유고로 자리매김하고자 합니다.
Mill City Ventures (NASDAQ: MCVT) a publié ses résultats du deuxième trimestre 2025 et donné des précisions sur sa nouvelle stratégie de trésorerie en SUI. La société a réalisé un produit d’investissement total de 948 000 $ (en hausse de 7 % en glissement annuel) et un résultat net de 677 000 $ (0,11 $ par action, +64 % en glissement annuel) issu de son activité de prêts traditionnelle.
Le 31 juillet 2025, Mill City a lancé la première stratégie de trésorerie SUI cotée en bourse et soutenue par la Foundation, levant 450 millions de dollars via une opération PIPE. Au 10 août 2025, la société avait accumulé 81,9 millions de tokens SUI, générant environ 26 000 $ par jour grâce au staking. La stratégie est soutenue par un partenariat exclusif avec la Sui Foundation et gérée par Galaxy Asset Management.
La société a nommé les cofondateurs de Karatage, Marius Barnett comme président et Stephen Mackintosh comme CIO, tout en conservant son activité de prêt existante et en se positionnant comme la plus grande trésorerie SUI cotée en bourse.
Mill City Ventures (NASDAQ: MCVT) hat die Ergebnisse für das zweite Quartal 2025 veröffentlicht und Informationen zu seiner neuen SUI-Treasury-Strategie bekanntgegeben. Das Unternehmen erzielte Gesamtanlageerträge 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 Kreditgeschäft.
Am 31. Juli 2025 startete Mill City die erste börsennotierte, von der Foundation unterstützte 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 täglich generieren. Die Strategie wird durch eine exklusive Partnerschaft mit der Sui Foundation unterstützt und von Galaxy Asset Management verwaltet.
Das Unternehmen ernannte die Karatage-Mitgründer Marius Barnett zum Vorsitzenden und Stephen Mackintosh zum CIO, behielt sein bestehendes Kreditgeschäft bei und positioniert sich als die größte börsennotierte 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’s Market Leadership
WAYZATA, Minn., Aug. 14, 2025 (GLOBE NEWSWIRE) -- Mill City Ventures III, Ltd. (“Mill City” or the “Company”) (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’s first SUI treasury strategy, under which the principal holding in Mill City’s treasury reserve on the balance sheet will be allocated to the native cryptocurrency of the Sui blockchain (commonly referred to as “SUI”), 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 — 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.
“We believe that SUI represents the infrastructure layer for the next chapter of the internet — a high-speed, secure, and scalable blockchain designed to bring mass market, consumer applications into Web3,” said Stephen Mackintosh, Chief Investment Officer of Mill City and Co-Founder of Karatage. “Its 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’t possible before.”
Recent Operational Highlights Since Launch of SUI Treasury Strategy
- Named Marius Barnett and Stephen Mackintosh, Co-Founders of Karatage Opportunities (“Karatage”), 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’s 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, “Mill 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.”
Q2 2025 Financial Summary (vs. Q2 2024)
Highlights from the Company’s 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’s 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 www.millcityventures3.com.
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’s volatility, the risks of implementing a new treasury diversification strategy, SUI’s 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’s 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’Souza
Elevate IR
(720) 330-2829
MCVT@elevate-ir.com
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