Crypto treasury firm Greenlane Holdings, focused on $BERA, concluded the second quarter with a valuation of $16.4 million — less than a quarter of its $70 million cost basis, according to regulatory filings.
On Friday, the company stated it held 81.3 million $BERA and BERA-equivalent tokens as of June 30. With a $53.8 million difference between the portfolio's cost and fair value, its valuation was 76.6% below cost.
Greenlane reported a non-cash fair value revaluation loss on digital assets of $19.1 million for the quarter, increasing its net loss to $24.8 million. For the same period, its digital assets segment generated $309,000 in revenue from staking and yield operations.
Greenlane Holdings is a Nasdaq-listed company that previously sold cannabis accessories. It later pivoted to a digital treasury strategy centered on the $BERA token of the Berachain network.
The company selected $BERA as its treasury's primary reserve asset in October 2025 after completing a $110.7 million private placement. By the end of March, it held 77.7 million $BERA and equivalent tokens and subsequently increased its holdings despite their declining value.
Since the start of the year, $BERA has fallen 75.9% and was trading around $0.146 at the time of writing, according to CoinGecko. Earlier this year, the token briefly traded above $1.20 before gradually declining to around $0.15.
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