diff --git a/rpcs3/Emu/Cell/RawSPUThread.cpp b/rpcs3/Emu/Cell/RawSPUThread.cpp
index dd4a49d6d6..8ba239ddcd 100644
--- a/rpcs3/Emu/Cell/RawSPUThread.cpp
+++ b/rpcs3/Emu/Cell/RawSPUThread.cpp
@@ -40,32 +40,6 @@ bool spu_thread::read_reg(const u32 addr, u32& value)
 {
 	const u32 offset = addr - (RAW_SPU_BASE_ADDR + RAW_SPU_OFFSET * index) - RAW_SPU_PROB_OFFSET;
 
-	const auto [old_stats, is_changed] = mmio_stats.fetch_op([&](raw_spu_log_stats_t& old)
-	{
-		if (old.mmio_offset == offset)
-		{
-			const u64 current = get_system_time();
-
-			if (current - old.mmio_time >= 1500)
-			{
-				old.mmio_time = current;
-				return true;
-			}
-
-			return false;
-		}
-
-		old.mmio_offset = offset;
-		return true;
-	});
-
-	std::string log_message = fmt::format("RawSPU[%u]: read_reg(0x%x, offset=0x%x)", index, addr, offset);
-
-	if (is_changed)
-	{
-		spu_log.trace("%s", log_message);
-	}
-
 	struct logger_end_t
 	{
 		u32 offset;
@@ -75,6 +49,8 @@ bool spu_thread::read_reg(const u32 addr, u32& value)
 
 		~logger_end_t() noexcept
 		{
+			if (log_message.empty()) return;
+
 			const auto [old, value_changed] = stats->fetch_op([&](raw_spu_log_stats_t& old)
 			{
 				if (old.mmio_offset == offset)
@@ -96,7 +72,38 @@ bool spu_thread::read_reg(const u32 addr, u32& value)
 				spu_log.trace("%s: value=0x%x", log_message, *value);
 			}
 		}
-	} logger_end{offset, &value, &mmio_stats, std::move(log_message)};
+	} logger_end{offset, &value, &mmio_stats, {}};
+
+	if (spu_log.trace)
+	{
+		const auto [old_stats, is_changed] = mmio_stats.fetch_op([&](raw_spu_log_stats_t& old)
+		{
+			if (old.mmio_offset == offset)
+			{
+				const u64 current = get_system_time();
+
+				if (current - old.mmio_time >= 1500)
+				{
+					old.mmio_time = current;
+					return true;
+				}
+
+				return false;
+			}
+
+			old.mmio_offset = offset;
+			return true;
+		});
+
+		std::string log_message = fmt::format("RawSPU[%u]: read_reg(0x%x, offset=0x%x)", index, addr, offset);
+
+		if (is_changed)
+		{
+			spu_log.trace("%s", log_message);
+		}
+
+		logger_end.log_message = std::move(log_message);
+	}
 	
 	switch (offset)
 	{
@@ -267,29 +274,32 @@ bool spu_thread::write_reg(const u32 addr, const u32 value)
 {
 	const u32 offset = addr - (RAW_SPU_BASE_ADDR + RAW_SPU_OFFSET * index) - RAW_SPU_PROB_OFFSET;
 
-	const auto [old_stats, is_changed] = mmio_stats.fetch_op([&](raw_spu_log_stats_t& old)
+	if (spu_log.trace)
 	{
-		if (old.mmio_offset == offset && old.mmio_value == value)
+		const auto [old_stats, is_changed] = mmio_stats.fetch_op([&](raw_spu_log_stats_t& old)
 		{
-			const u64 current = get_system_time();
-
-			if (current - old.mmio_time >= 500)
+			if (old.mmio_offset == offset && old.mmio_value == value)
 			{
-				old.mmio_time = current;
-				return true;
+				const u64 current = get_system_time();
+
+				if (current - old.mmio_time >= 500)
+				{
+					old.mmio_time = current;
+					return true;
+				}
+
+				return false;
 			}
 
-			return false;
+			old.mmio_offset = offset;
+			old.mmio_value = value;
+			return true;
+		});
+
+		if (is_changed)
+		{
+			spu_log.trace("RawSPU[%u]: write_reg(0x%x, offset=0x%x, value=0x%x)", index, addr, offset, value);
 		}
-
-		old.mmio_offset = offset;
-		old.mmio_value = value;
-		return true;
-	});
-
-	if (is_changed)
-	{
-		spu_log.trace("RawSPU[%u]: write_reg(0x%x, offset=0x%x, value=0x%x)", index, addr, offset, value);
 	}
 
 	switch (offset)