Greenlane Buys $8 Million worth of BERA, Maintains Approximately $32 Million Cash and Stablecoin Reserves for Berachain Treasury Strategy

Rhea-AI Summary

Greenlane (Nasdaq:GNLN) updated its Berachain treasury activity on December 8, 2025. Between October 23 and December 3, 2025 the company purchased $8.0 million of BERA (~5.76 million BERA) at an average price of $1.39 per token.

Greenlane reports a total on-chain liquid position of ~8.33 million BERA (substantially staked), earned >180,000 BERA from staking, and cites a PoL annualized return of 30% (Dec 3, 2025). As of Dec 3, 2025 the company holds ~$32 million of USD cash and dollar-pegged stablecoins allocated to the strategy, which would equate to ~31 million BERA at $1.00 per token (illustrative).

Positive

• $8.0M BERA purchases increased holdings by 5.76M BERA
• Staked ~8.33M liquid BERA to generate yield
• Earned >180,000 BERA from staking since launch
• Maintains ~$32M cash and stablecoin reserves for deployment

Negative

• Portion of BERA remains subject to lock up or vesting
• PoL return 30% is subject to prevailing network conditions
• Illustrative conversion assumes token availability at $1.00 with no market impact

Key Figures

BERA purchases $8 million BERA bought between Oct 23 and Dec 3, 2025

BERA acquired 5.76 million BERA Tokens purchased under Berachain Treasury Strategy

Avg BERA price $1.39 per BERA Average purchase price for recent BERA buys

Staked BERA 8.33 million BERA Substantially all liquid on-chain BERA staked

Total BERA position 60.17 million BERA Overall BERA token position referenced

BERA staking rewards 180,000+ BERA Earned from staking since strategy launch

PoL staking yield 30% Annualized PoL staking return on Dec 3, 2025

Cash & stablecoins $32 million U.S. dollar cash and stablecoin reserves on Dec 3, 2025

Market Reality Check

$3.25 Last Close

Volume Volume 44,300 vs 20-day average 37,296 (relative volume 1.19x) shows slightly elevated interest pre-announcement. normal

Technical Price at $3.25 is trading well below the $71.95 200-day moving average, reflecting a longer-term downtrend into this update.

Peers on Argus 1 Up

GNLN was up 1.88% pre-news while sector peers were mixed: KAVL -0.78%, XXII +0.95%, ISPR -8.37%, TPB +1.16%, UVV +0.27%. Moves appear company-specific rather than a broad Tobacco/wholesale rotation.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Nov 14	Earnings and strategy	Negative	-6.3%	Q3 2025 results with lower sales, higher loss and BERA treasury shift.
Oct 24	Private placement close	Positive	-11.8%	$110M private placement completion and disclosure of large BERA holdings.
Oct 20	PIPE announcement	Positive	-9.9%	Announcement of $110M PIPE to fund BERA-centric treasury strategy.
Aug 14	Earnings update	Negative	-6.3%	Q2 2025 revenue decline and continued operating losses despite restructuring.
Jul 14	Strategic partnership	Positive	-1.3%	Selection of JointCommerce as B2C digital marketing platform for growth.

Pattern Detected

Recent news — including two BERA-focused financings and weak earnings — has often been followed by negative price reactions, even when announcements were strategically positive.

Recent Company History

Over the last six months, Greenlane has transitioned from a challenged cannabis accessories distributor to a BERA-focused digital-asset treasury platform. Key steps included a $110 million PIPE in October 2025 to accumulate BERA, followed by Q3 2025 results highlighting sharply lower sales and larger losses but a cleaned-up balance sheet. Subsequent filings and proxy materials emphasized restructuring, equity incentives and approval of financing-related share issuances. Today’s update on BERA purchases, staking yields and roughly $32 million in cash and stablecoin reserves fits this ongoing treasury-focused repositioning.

Regulatory & Risk Context

Active S-3 Shelf Registration 2025-11-21

An effective S-3 shelf dated Nov 21, 2025 registers 33,886,832 shares of common stock for resale by existing investors, including PIPE, pre-funded warrant, and strategic advisor warrant shares. The company itself does not sell shares or receive resale proceeds other than any cash from warrant exercises, but the filing flags significant digital-asset and regulatory risks, including potential added stock volatility.

Market Pulse Summary

This announcement details Greenlane’s deepening Berachain exposure, including $8 million of recent BERA purchases, a total 60.17 million BERA position, and staking of about 8.33 million tokens with PoL yields cited at 30%. The company also reports roughly $32 million in cash and stablecoin reserves dedicated to the strategy. In context of earlier PIPE financing and restructuring, key watchpoints are digital-asset volatility, execution of staking and DeFi plans, and adherence to the risk disclosures in recent SEC filings.

Key Terms

stablecoin financial

"approximately 32 million dollars of U.S. dollar cash and dollar pegged stablecoin reserves"

A stablecoin is a type of digital currency designed to keep its value steady, often by being backed by traditional assets like money or commodities. For investors, stablecoins offer a reliable way to move money quickly across digital platforms without the value fluctuations common with other cryptocurrencies, making them useful for saving, trading, or transferring funds with less risk of sudden losses.

staking technical

"update on its BERA token holdings, staking activity, and capital position"

Staking is the practice of locking up digital tokens to help run a blockchain network in return for rewards, similar to leaving money in a time deposit that pays interest while it’s unavailable. It matters to investors because staking can generate regular income and affect a token’s circulating supply and price, but it also ties up assets and can carry risks like lock-up periods, reduced liquidity, or technical and platform failures.

proof of liquidity technical

"The annualized percentage return of Berachain's Proof of Liquidity ("PoL") staking"

Proof of liquidity is documentation or evidence showing that an entity has enough readily available cash or assets that can be quickly converted to cash to meet short-term obligations or to support trading activity. For investors, it matters because it reduces the risk that the company, fund, or market will run out of cash, default on payments, or face sudden price swings; think of it as a bank statement proving there’s money in the checking account before making a big purchase.

decentralized finance technical

"plans to deploy into PoL staking and/or decentralized finance venues across the Berachain ecosystem"

Decentralized finance, often called DeFi, is a way of using digital technology to offer financial services like lending, borrowing, and trading without relying on traditional banks or institutions. It operates on open networks where anyone can participate, much like a digital marketplace that runs on shared computer systems. For investors, DeFi provides more direct control over their assets and access to financial activities outside conventional systems.

AI-generated analysis. Not financial advice.

BOCA RATON, FL / ACCESS Newswire / December 8, 2025 / Greenlane Holdings, Inc. ("Greenlane" or the "Company") (Nasdaq:GNLN), a Berachain-focused digital asset treasury company and global seller of premium cannabis accessories, and subsequent to the Company's press releases issued on October 24, 2025 and November 14, 2025 that disclosed Greenlane's Berachain cryptocurrency treasury strategy (the "Berachain Treasury Strategy"), is providing an update on its BERA token holdings, staking activity, and capital position related to its participation in the Berachain ecosystem.

The Company commenced its Berachain Treasury Strategy on October 23, 2025. Between October 23 and December 3, 2025, Greenlane purchased $8 million of BERA, expanding its BERA holdings by approximately 5.76 million BERA at an average purchase price of approximately $1.39 per BERA.

The Company has staked substantially all of approximately 8.33 million BERA, representing the liquid on-chain portion of its 60.17 million BERA position¹. The remainder of the BERA tokens remain subject to lock up or vesting. As of December 8, 2025, Greenlane has earned over 180,000 BERAfrom staking since launching the Berachain Treasury Strategy. The annualized percentage return of Berachain's Proof of Liquidity ("PoL") staking on December 3, 2025 was 30%², subject to prevailing network conditions³.

As of December 3, 2025, the Company had approximately 32 million dollars of U.S. dollar cash and dollar pegged stablecoin reserves allocated to the Berachain Treasury Strategy⁴. Purely for illustrative purposes, if BERA tokens were available at $1.00 per token and assuming no impact from the Company's own purchases on market prices, that cash would equate to approximately 31 million BERA, or roughly 23% of the estimated circulating supply as of December 3, 2025, based on data from CoinMarketCap. There is no assurance that such tokens would be available at those prices or in those quantities.

"I believe that we have maintained a disciplined investment approach throughout a volatile cryptocurrency market. We retain the vast majority of the net proceeds from our recent private investment, which puts us in a strong position to continue building out our BERA treasury and yield generation strategies over the remainder of 2025 and into 2026," said Ben Isenberg, Chief Investment Officer.

Greenlane expects to continue purchasing BERA during the fourth quarter of 2025, with plans to deploy into PoL staking and/or decentralized finance venues across the Berachain ecosystem to generate additional revenues.

About Greenlane

Greenlane is a global platform for the development and distribution of premium smoking accessories, vape devices, and lifestyle products to thousands of producers, processors, specialty retailers, smoke shops, convenience stores, and retail consumers. In October 2025, Greenlane initiated a Berachain treasury strategy dedicated to acquiring BERA and increasing BERA-per-share through active management of the Company's treasury. The Company is a Berachain ecosystem participant focused on supporting the development and operation of blockchain-based infrastructure, including assets and applications built on Berachain. The Company engages in network staking, liquidity provisioning, and strategic initiatives intended to contribute to the long-term sustainability of decentralized protocols within its portfolio.

About Berachain

Berachain (BERA) is the first blockchain powered by Proof of Liquidity, designed to help businesses scale and provide sustainable on-chain economies. Proof of Liquidity provides BERA with a staking yield derived from the revenues or ownership of profitable, revenue-generating companies building on the network. Berachain has raised $150M from leading digital asset investors including Brevan Howard, Framework Ventures, Polychain Capital, Samsung Next, Laser Digital by Nomura, Goldentree Asset Management, SBI VC Trade and more.

Media Contacts:

Greenlane Holdings, Inc.
Investor Contact:
IR@greenlane.com

or

PCG Advisory
Kevin McGrath
+1-646-418-7002

Forward-Looking Statements

This press release contains statements that constitute "forward-looking statements." Forward-looking statements are statements other than historical facts and include, without limitation, statements regarding progress and achievement of the Company's goals regarding BERA acquisition and staking, the long-term value of BERA, continued growth and advancement of the Company's Berachain Treasury Strategy and the applicable benefits to the Company, and other projections or statements of plans and objectives.

These forward-looking statements are based on current expectations, estimates, assumptions, and projections, and involve known and unknown risks, uncertainties, and other factors, many of which are beyond the Company's control, that may cause actual results, performance, or achievements to differ materially from those expressed or implied by such statements. Important factors that may affect actual results include, among others, the Company's ability to execute its growth strategy; its ability to raise and deploy capital effectively; developments in technology and the competitive landscape; changes in the regulatory landscape applicable to digital assets, including BERA; the market performance of BERA; and other risks and uncertainties described under "Risk Factors" in the Company's Annual Report on Form 10-K filed with the SEC on March 21, 2025, Quarterly Report on Form 10-Q for the quarter ended September 30, 2025 filed with the SEC on November 14, 2025 and in other subsequent filings with the SEC. These filings are available at www.sec.gov. The forward-looking statements in this press release speak only as of the date of this document, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

Cautionary Note Regarding Digital Assets

BERA is a digital asset that is not legal tender, is not backed by any government or central bank and may be subject to extreme price volatility, regulatory uncertainty and technological risk. Investments in and exposures to digital assets such as BERA are highly speculative and may result in the loss of all or a substantial portion of the invested capital. The Company's activities involving BERA and other digital assets may not be suitable for all investors and are subject to the risks described in the "Risk Factors" in the Company's Annual Report on Form 10-K filed with the SEC on March 21, 2025, Quarterly Report on Form 10-Q for the quarter ended September 30, 2025 filed with the SEC on November 14, 2025 and in other subsequent filings with the SEC. These filings are available at www.sec.gov.

¹ Current 60.17 million BERA holding is comprised of (i) initial BERA holding of 54.23 million BERA, per Greenlane press release dated October 24, 2025, (ii) 5.76 million BERA purchased, and (iii) 0.18 million BERA earned from staking.

² Annualized protocol rate calculated using weekly data, "return" refers to protocol rewards measured in BERA units (i.e. a 30% annualized return on 100 BERA is 30 BERA). A quoted rate of return is a point-in-time protocol figure. Reward and return metrics can fluctuate rapidly, and should not be viewed as indicative of future results or as any guarantee of future performance. The current and historical annualized rates of return may be viewed at any point on https://hub.berachain.com/stake/

³ Prevailing network conditions include, but may not be limited to, protocol parameter changes, reward schedule adjustments, validator set changes and market volatility.

⁴ Per Greenlane press release dated October 24, 2025, the Company raised gross proceeds of $50 million in closed Private Investment in Public Entity Financing, or 43 million dollars in U.S. dollar cash and dollar-pegged stablecoins, net of transaction fees. Less approximately $3 million in cash used by the Company's legacy business and approximately $8 million used to purchase BERA between October 23 and December 3, 2025, leaving approximately 32 million dollars of U.S. dollar cash and dollar-pegged stablecoins remaining, allocated to the Berachain Treasury Strategy.

SOURCE: Greenlane Holdings, Inc.

View the original press release on ACCESS Newswire

FAQ

How much BERA did Greenlane (GNLN) buy between Oct 23 and Dec 3, 2025?

Greenlane purchased $8.0 million of BERA, approximately 5.76 million tokens, at an average price of $1.39 per token.

What BERA staking returns did Greenlane report on Dec 3, 2025 for GNLN?

The company cited an annualized PoL staking return of 30% on Dec 3, 2025, subject to network conditions.

How many BERA has Greenlane staked as of Dec 8, 2025?

Greenlane staked substantially all of its liquid position, roughly 8.33 million BERA.

How much cash and stablecoin does Greenlane (GNLN) hold for the Berachain strategy?

As of Dec 3, 2025 Greenlane held approximately $32 million of U.S. dollar cash and dollar-pegged stablecoins allocated to the strategy.

What would Greenlane's $32M reserves convert to in BERA at $1.00 per token?

Purely illustratively, $32 million would equate to about 31 million BERA, per the company's example.

Will Greenlane (GNLN) continue buying BERA in Q4 2025?

Yes; the company expects to continue purchasing BERA in the fourth quarter of 2025 and deploy into PoL staking or DeFi venues.