Nasdaq-listed Greenlane reports a $19.1 million noncash valuation loss as its BERA holdings plunge 76.6% below cost basis.
Greenlane Holdings recorded a $19.1 million noncash fair-value loss on its BERA token treasury in the second quarter, driven by a 76% year-to-date decline in the token’s price. The company’s crypto portfolio, valued at $16.4 million as of June 30, sits $53.8 million below its $70 million cost basis, according to regulatory filings.
Greenlane held 81.3 million BERA and equivalent tokens at quarter-end, up from 77.7 million in March, despite the valuation drop. The digital asset segment generated $309,000 in staking and yield revenue, offsetting a fraction of the loss. BERA, which traded above $1.20 earlier this year, fell to $0.146 amid broader crypto market weakness.
The company, originally a cannabis accessories firm, pivoted to a BERA-focused treasury strategy in October 2025 after raising $110.7 million in a private placement. Its net loss for the quarter widened to $24.8 million, reflecting the token’s sharp depreciation.