Mill City Ventures III has announced a $500 million equity line agreement to bolster its treasury holdings of SUI tokens, which currently total 76.2 million tokens valued at approximately $276 million. This strategic maneuver aims to strengthen the company’s foothold in the blockchain sector by concentrating capital on the SUI blockchain ecosystem.
The investment reflects an industry-wide pivot among crypto-native companies toward diversifying treasury assets beyond traditional holdings like Bitcoin and Ethereum. Stephen Mackintosh, Mill City’s Chief Investment Officer, emphasized the equity line enables efficient scaling of SUI assets while maintaining operational agility.
Following the announcement, Mill City’s shares experienced a notable downturn, closing 11.4% lower at $4.91 with an additional 4.28% decline in after-hours trading. SUI, the native token of Sui Network—a layer-1 blockchain optimized for high scalability and low latency—remains central to the firm’s treasury strategy amid evolving market dynamics.