BlockBeats news, on August 15, SUI treasury management company Mill City disclosed its Q2 financial report, reporting a 7% year-on-year increase in total investment income to $948,000, while operating expenses decreased to $316,000. It holds a total of 81.87 million SUI tokens, which have all been staked.
On August 1, Mill City Ventures III announced plans to purchase up to $500 million worth of SUI tokens. Previously, the company had reached an equity financing agreement with A.G.P./Alliance Global Partners, allowing it to sell common stock to fund its crypto asset treasury strategy. Mill City has spent approximately $277 million to acquire over 76 million SUI tokens, a transaction that occurred after Mill City officially established itself as the treasury manager for Sui and completed a $450 million private placement financing.
