Étienne Girard
SUI Group Holdings, a Nasdaq-listed company, revealed Wednesday that its SUI token reserves have surpassed $300 million after acquiring an additional 20 million tokens.
According to the announcement, the company now holds 101,795,656 SUI tokens, valued at approximately $344 million as of Wednesday. During the same period, SUI’s price climbed nearly 5% to $3.38, as of 12:36 p.m. ET.
SUI Group’s Chief Investment Officer Stephen Mackintosh emphasized that the firm will pursue further capital raises to acquire more discounted locked SUI tokens, aiming to increase SUI per share and maximize shareholder returns.
Corporate Digital Asset Treasuries on the Rise
The move aligns with a broader trend of publicly traded digital asset treasuries (DATs) accumulating cryptocurrencies like Solana and Toncoin, both as a means of generating returns and supporting blockchain ecosystems.
Formerly known as Mill City Ventures, SUI Group rebranded after securing a $450 million private placement, making it the official SUI token treasury. The company also maintains a deal to purchase tokens directly from the Sui Foundation at a discount.
Future Purchases in Sight
SUI Group reported having approximately $58 million in cash reserves set aside for additional SUI acquisitions, signaling continued expansion of its crypto balance sheet.
