Greenlane's BERA Treasury Value Drops Sharply in Q2

Greenlane Holdings, a Nasdaq-listed company that shifted from cannabis accessories to digital assets, reported its BERA-focused crypto treasury ended Q2 valued at $16.4 million.

This is significantly lower than its cost basis of $70 million, representing a loss of $53.8 million or 76.6% below cost.

Greenlane held 81.3 million BERA and BERA-equivalent tokens as of June 30, according to a regulatory filing.

The company reported a noncash fair-value loss of $19.1 million on digital assets during the quarter, contributing to a net loss of $24.8 million.