Greenlane’s $70M BERA treasury ends Q2 valued at $16M

Greenlane recorded a $19.1 million noncash valuation loss as BERA’s price fell nearly 76% year to date.

Greenlane Holdings’ BERA-focused crypto treasury ended the second quarter valued at $16.4 million, less than a quarter of its $70 million cost basis, according to a regulatory filing. 

On Friday, the company said it held 81.3 million BERA and BERA-equivalent tokens as of June 30. The $53.8 million gap between their cost and fair value left the portfolio 76.6% below cost.

Greenlane reported a $19.1 million noncash fair-value loss on digital assets during the quarter, contributing to a net loss of $24.8 million. Meanwhile, its digital asset segment generated $309,000 in staking and yield revenue over the same period. 

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Source: https://cointelegraph.com/news/greenlane-70m-bera-treasury-valued-16m?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound