Greenlane Buys $8 Million Worth Of Bera, Maintains Approximately $32 Million Cash And Stablecoin Reserves For Berachain Treasury Strategy

BOCA RATON, FL / ACCESS Newswire / December 8, 2025 / Greenlane Holdings, Inc. ("Greenlane" or the "Company") , 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

Transitioned to a digital asset treasury model focused on Berachain (BERA), raising over $110 million and holding 54.2 million BERA. Q3 2025 saw revenue drop to $0.74 million and a net loss of $8.9 million, with ongoing efforts to monetize legacy inventory and enhance operational efficiency.

Original document: Greenlane Holdings, Inc. [GNLN] SEC 8-K Current Report — Nov. 14 2025

Q3 2025 saw a sharp revenue decline and deep losses, driven by a major inventory write-down and restructuring. Post-quarter, a $110M private placement shifted the company to a digital asset treasury strategy focused on BERA tokens, introducing new risks and volatility.

Original document: Greenlane Holdings, Inc. [GNLN] SEC 10-Q Quarterly Report — Nov. 14 2025

BOCA RATON, FLORIDA / ACCESS Newswire / November 14, 2025 / Greenlane Holdings, Inc. ("Greenlane" or the "Company") , a Berachain-focused digital asset treasury company and global seller of premium cannabis accessories, today reported its financial results for the third quarter and nine months ended September 30, 2025 along with an update on the expansion of the Company's Berachain (BERA) treasury strategy.

BERA is the fee token of Berachain, the first Layer 1 blockchain powered by Proof of Liquidity (PoL) to help businesses scale and power on-chain economies. PoL provides BERA with a staking yield derived from the revenues or ownership of companies on the network.

In late October 2025, Greenlane executed a strategic shift - adopting a treasury reserve strategy with BERA as the Company's primary asset. Greenlane's goal is to give investors a simplified way to participate in what management believes will be Berachain's transformation of global finance, with institutional-grade discipline, transparency, and full activation of Berachain's yield potential. Greenlane is strategically accumulating BERA and employing active treasury management and staking. The result is yield-generating BERA treasury that aims to compound growth and capture the full upside exposure of BERA.

While the Company advances its digital-asset strategy and treasury operations, it will continue to operate its distribution business, enhance operational efficiencies and continue inventory monetization to accelerate the disposition of aged inventory.

Key Highlights Since Launch of BERA Treasury Strategy

• Built world class leadership team:

  • Bruce Linton, previously led Canopy Growth Corporation to a $15B market capitalization and has extensive experience in leading companies across communications and cleantech, joined as Chairman of the Board.

  • Billy Levy, a serial entrepreneur and capital markets executive with a history of building, scaling, and exiting companies across multiple industries, including co-founding Virgin Gaming in collaboration with Sir Richard Branson, appointed as a director.

  • Ben Isenberg, appointed as Chief Investment Officer to manage the BERA treasury strategy. Isenberg also serves as Founder and Principal of BSQD Corp., a market-making and proprietary trading firm specializing in digital assets and cryptocurrencies. In this role, Mr. Isenberg is responsible for the strategic direction and oversight of digital asset trading operations. Prior to this, Isenberg served as a Trader at Tradias GmbH, a BAFIN regulated market maker based in Frankfurt, Germany from 2021- 2024. Before entering the digital asset markets, Isenberg worked in investment banking at M Partners in Toronto, where he covered digital assets, technology and mining from 2019-2021.

• Formed a Digital Assets Committee in October 2025 comprised of Mr. Levy and Mr. Linton, with Mr. Linton serving as chair.

• Establishing an experienced team of institutional-grade capital markets and treasury management professionals to operationalize the Company's strategy with support from leading crypto asset managers and custodians.

• Raised over $110 million in capital and digital assets through an October 23, 2025 private placement offering to drive BERA acquisitions, resulting in approximately $24.3 of net cash proceeds, approximately $19.0 of stablecoin proceeds, and approximately 54.2 million BERA.

• The Company intends to manage its BERA tokens to generate yields through staking and activities and to enhance long-term value as the adoption of the BERA token increases.

Third Quarter 2025 Results Compared to Prior Year Period

Total revenue of premium cannabis accessories, vape devices, and lifestyle products was $0.74 million compared to $4.0 million in the prior year period.

Total operating expenses were $4.0 million, compared to $3.6 million in the prior year period.

Net loss was $8.9 million compared to a net loss of $3.8 million in the prior year period.

Management completed a comprehensive review of inventory aging and realizability in connection with the Company's transition under the BERA initiative toward a capital-light, IP-driven operating model. As a result, the Company recorded a $5.0 million non-cash inventory reserve, included in cost of sales, to reflect expected recoveries from legacy product lines.

As of September 30, 2025, the Company had cash and cash equivalents of $1.8 million and no borrowings outstanding.

Subsequent Events

On October 23, 2025, we closed a $110.7 million private placement consisting of cash and crypto-denominated subscriptions, as disclosed in our Form 8-K filed October 20, 2025. The closing delivered approximately $24.3 million of net cash proceeds and approximately $19.0 million of stablecoin proceeds and resulted in holdings of approximately 54.2 million BERA as of October 23, 2025. These proceeds strengthen near-term liquidity as we execute a strategic shift from the legacy business and transition to our digital-asset treasury model.

GREENLANE HOLDINGS, INC.

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About Greenlane Holdings, Inc.

Founded in 2005, Greenlane is a premier 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. We operate as a powerful family of brands, third-party brand accelerator, and an omnichannel distribution platform. The Company has entered the cryptocurrency industry and cash management of assets through a digital asset treasury strategy. For more information on Greenlane's treasury strategy and future developments, visit https://investor.gnln.com.

Investor Contact:

IR@greenlane.com

or

PCG Advisory

Kevin McGrath

+1-646-418-7002

kevin@pcgadvisory.com

Forward-Looking Statements

This press release contains statements that constitute "forward-looking statements" within the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements other than historical facts and include, without limitation, statements regarding the potential for and amount of additional cash proceeds from warrant exercises, use of proceeds from the announced PIPE, future announcements and priorities, expectations regarding management, market position, business strategies, future financial and operating performance, 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; 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, its most recent Quarterly Report on Form 10-Q, 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.

SOURCE: Greenlane Holdings, Inc.

View the original press release on ACCESS Newswire