SUI Group treasury's holdings surpass $300 million after adding 20 million tokens

Nasdaq-listed SUI Group Holdings said on Wednesday its holdings of SUI tokens have surpassed $300 million after the company added approximately 20 million tokens, according to a statement.

The company said it held 101,795,656 SUI tokens, which are worth $344 million as of Wednesday. SUI was changing hands up nearly 5% to $3.38 as of 12:36 p.m. ET.

"We plan to continue to seek accretive capital raises to make additional purchases of discounted locked SUI and, in turn, increase our SUI per share to generate value for our shareholders," said SUI Group CIO Stephen Mackintosh.

Publicly-traded digital asset treasuries (DATs) continue to add crypto as supporters and holders of certain tokens look to generate returns from the stock market while promoting ecosystems like that of Solana, Toncoin, and others.

Sui Group, previously short-term lender Mill City Ventures before the rebrand, has a deal in place that allows it to acquire tokens directly from Sui Foundation at a discount. Mill City established itself as the official SUI treasury with the closing of a $450 million private placement.

The company said it has approximately $58 million in cash available for more SUI token purchases.