BERA Token Holdings Drop Greenlane's $70M Treasury to $16M by Q2 End
After transitioning its business model to focus on Berachain's BERA token, the former seller of cannabis-related accessories generated $309,000 through staking and yield operations.
The cryptocurrency treasury of Greenlane Holdings, which focuses on BERA tokens, closed out the second quarter with a valuation of $16.4 million, representing less than one-quarter of the original $70 million investment cost, based on information disclosed in a regulatory filing.
The company disclosed on Friday that its portfolio consisted of 81.3 million BERA and tokens equivalent to BERA as of the conclusion of June 30. With a difference of $53.8 million between what the company paid and the current fair market value, the holdings sat 76.6% underwater relative to their purchase price.
During the three-month period, Greenlane documented a noncash loss related to fair-value adjustments on its digital assets totaling $19.1 million, which played a role in driving the company's overall net loss to $24.8 million. At the same time, the firm's operations in the digital asset space brought in $309,000 through staking activities and yield generation during the identical timeframe.
Greenlane Holdings operates as a Nasdaq-traded entity that previously specialized in cannabis accessories before pivoting its business approach to focus on a digital asset treasury strategy built around the BERA token from Berachain.
The firm embraced BERA as its core treasury reserve holding in October 2025, following the successful closure of a private placement transaction worth $110.7 million. The company expanded its position from 77.7 million BERA and equivalent tokens held at the conclusion of March, even as the assets experienced deteriorating values.
The BERA token has experienced a 75.9% decline since the beginning of the year and was changing hands at approximately $0.146 as of the latest data point, based on figures from CoinGecko. Earlier in the calendar year, the digital asset momentarily surpassed the $1.20 price level before entering a sustained downward trajectory that brought it close to $0.15.