Greenlane’s BERA Treasury Loses Over $50 Million in Value as Token Price Crashes

Nasdaq-listed Greenlane Holdings saw its BERA focused crypto treasury shrink dramatically in the second quarter, ending June valued at just $16.4 million against a $70 million cost basis. The steep decline comes as Berachain’s native token BERA has fallen nearly 76% since the start of the year.

Treasury Value Falls Well Below Cost

According to a regulatory filing released Friday, Greenlane held 81.3 million BERA and BERA-equivalent tokens as of June 30. The gap between what the company paid for those tokens and their current market value reached $53.8 million, leaving the portfolio sitting 76.6% below its original cost. The company reported a $19.1 million noncash fair-value loss on its digital assets for the quarter, which contributed to an overall net loss of $24.8 million. Its digital asset operations did generate $309,000 in staking and yield income during the same period.

From Cannabis Accessories to Crypto Treasury

Greenlane, once known as a cannabis accessories company, shifted its business strategy toward a digital asset treasury model built around BERA in October 2025. That pivot followed a $110.7 million private placement used to fund the purchase. Despite the token’s ongoing decline, the company actually increased its holdings during the quarter, growing from 77.7 million BERA and equivalent tokens at the end of March to the current total.

BERA Price Continues Steady Decline

BERA has lost close to 80% of its value so far this year and was trading around $0.146 at the time of reporting, according to Blockto. The token had briefly climbed above $1.20 earlier in the year before entering a steady downward slide toward its current price near $0.14.