Greenlane’s $70m BERA treasury falls to just $16.4m in Q2

Greenlane Holdings’ BERA-focused digital asset treasury has fallen to $16.4 million in fair value at the end of the second quarter, leaving the portfolio about 76.6% below its $70 million cost basis. Summary Greenlane’s BERA treasury was valued at $16.4 million at the end of Q2, down 76.6% from its $70 million cost basis. The company held 81.3 million BERA and equivalent tokens as of June 30, up from 77.7 million at the end of March. Greenlane recorded a $19.1 million digital asset fair value loss and a $24.8 million net loss for the quarter. BERA has fallen 75.9% year to date and was trading near $0.146. According to Greenlane’s latest regulatory filing, the Nasdaq-listed company held about 81.3 million BERA and BERA-equivalent tokens as of June 30, up from roughly 77.7 million at the end of the first quarter despite a continued decline in the token’s market price. The difference between the portfolio’s acquisition cost and quarter-end fair value stood at about $53.8 million. Greenlane recorded a $19.1 million noncash fair-value loss on its digital assets during the three months through June, which contributed to a net loss of $24.8 million for the period. At the same time, the co...