Greenlane Holdings BERA-focused crypto treasury ended the second quarter valued at $16.4 million, less than a quarter of its $70 million cost basis, according to a regulatory filing.
On Friday, the company said it held 81.3 million BERA and BERA-equivalent tokens as of June 30. The $53.8 million gap between their cost and fair value left the portfolio 76.6% below cost.
Greenlane reported a $19.1 million noncash fair-value loss on digital assets during the quarter, contributing to a net loss of $24.8 million. Meanwhile, its digital asset segment generated $309,000 in staking and yield revenue over the same period.
Greenlane Holdings is a Nasdaq-listed former cannabis accessories company that shifted to a digital asset treasury strategy centered on Berachains BERA token.
The company adopted BERA as its primary treasury reserve asset in October 2025, after completing a $110.7 million private placement. It increased its holdings from 77.7 million BERA and equivalent tokens at the end of March despite the declining valuation.
BERA has fallen 75.9% year to date and was trading at about $0.146 at the time of writing, according to CoinGecko. The token briefly traded above $1.20 earlier this year before declining steadily toward $0.15.