According to a recent regulatory filing, Greenlane Holdings' crypto treasury, which is concentrated in BERA, concluded the second quarter with a valuation of just $16.4 million. This figure represents less than a quarter of its initial $70 million cost basis.

The company reported on Friday that its holdings totaled 81.3 million BERA and BERA-equivalent tokens as of the June 30 cutoff. This valuation created a $53.8 million difference between the assets' cost and their fair market value, leaving the portfolio down by 76.6%.

For the quarter, Greenlane recorded a noncash fair-value loss on its digital assets amounting to $19.1 million, which was a significant factor in the company's overall net loss of $24.8 million. In contrast, the firm's digital asset division managed to produce $309,000 in revenue from staking and yield-generating activities during the same three-month period.

Greenlane Holdings, a company listed on the Nasdaq, previously operated in the cannabis accessories market before pivoting its corporate strategy to focus on a digital asset treasury built around the BERA token from Berachain. The firm officially adopted BERA as its main treasury reserve asset in October 2025, a move that followed the successful completion of a $110.7 million private placement.

Despite the asset's falling value, Greenlane expanded its position, increasing its holdings from 77.7 million BERA and equivalent tokens at the close of March.

The BERA token itself has suffered a significant downturn. Year to date, the token has experienced a 75.9% decline in value. At the time of this report, its trading price was approximately $0.146, according to data from CoinGecko. Earlier in the year, the token had a brief period where it traded above $1.20, but it has since undergone a steady decline to a level near $0.15.