Greenlane's treasury holdings in the BERA token ended the second quarter worth just $16 million, down from a peak of $70 million, the company said. The collapse in value triggered a $19.1 million noncash valuation loss on its books.
A steep slide for BERA
BERA's price has fallen nearly 76% year to date. The token, which Greenlane holds as part of its corporate treasury, has been sliding for months, and the company's quarterly statement reflects that pain directly.
At $16 million, the treasury is now a fraction of what it was. The $70 million valuation point came earlier, but the exact timing wasn't disclosed. Either way, the drop is steep — and the accounting hit is real, even if no cash changed hands.
The noncash loss explained
Greenlane recorded a $19.1 million noncash valuation loss for the quarter. That's the result of marking the BERA holdings down to their current market value. Noncash means the company didn't sell anything — the loss exists on paper, but it still eats into reported earnings and shareholder equity.
For a company that holds a volatile crypto token as a reserve asset, this is the kind of swing that makes treasuries nervous. The loss is tied directly to BERA's price decline, not to any operational problem at Greenlane itself.
What the treasury looks like now
The $16 million figure is the carrying value of the BERA holdings at the end of Q2. That's the number investors will see on the balance sheet. The gap between that and the earlier $70 million valuation is a reminder of how quickly a digital asset can erode in value.
Greenlane hasn't said whether it plans to sell, hold, or add to its BERA position. The company's next earnings report will show if management made any moves to limit further exposure.
