Greenlane Completes Strategic Shift to Berachain-Focused Digital Asset Treasury

Company Reports Q4 and Full Year 2025 Financial Results, Announces Reverse Stock Split and Nasdaq Delisting Appeal

Mar. 31, 2026 at 9:15pm

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A high-end, photorealistic studio still-life photograph featuring a polished, geometric metal cube and a smooth, spherical glass orb resting on a clean, monochromatic seamless background, conceptually representing Greenlane's strategic shift to a digital asset treasury focused on the Berachain blockchain.Greenlane's strategic pivot to a Berachain-centric digital asset treasury reflects the company's confidence in the blockchain network's long-term potential.Boca Raton Today

Greenlane Holdings, Inc., a publicly traded digital asset treasury company, has reported its financial results for the fourth quarter and full year ended December 31, 2025. The company completed a strategic transition to a Berachain-focused digital asset treasury strategy in October 2025, deploying capital to acquire the BERA token and participate in the Berachain network's Proof of Liquidity staking and validator infrastructure.

Why it matters

Greenlane's shift to a Berachain-centric strategy reflects its conviction in the long-term potential of the Berachain ecosystem. The company's digital asset treasury approach aims to generate value for shareholders by leveraging BERA's growth and the Berachain network's development. However, Greenlane also faces challenges, including a Nasdaq delisting notice and the need to execute a reverse stock split to regain compliance.

The details

As of December 31, 2025, Greenlane held 51.7 million BERA tokens at a cost basis of $58.3 million, with a fair value of $36.6 million. The company recognized a $31.1 million loss on the change in fair value of its BERA holdings during fiscal year 2025. Greenlane also held $22.6 million in stablecoins and had $32.5 million in cash and cash equivalents, providing financial flexibility for continued capital deployment and strategic initiatives. In February 2026, the company disclosed it held approximately 70.4 million BERA units and had deployed up to 50 million BERA into validator infrastructure.

  • In October 2025, Greenlane adopted a Treasury Policy and initiated its strategic shift toward a digital asset treasury strategy focused on BERA.
  • On March 25, 2026, Greenlane received a Nasdaq delisting notice and announced plans to appeal the determination.
  • On March 25, 2026, Greenlane's stockholders approved a reverse stock split within a range of 1-for-5 to 1-for-15, with the final ratio and timing to be determined by the Board of Directors.

The players

Greenlane Holdings, Inc.

A publicly traded digital asset treasury company focused on the acquisition, management, and strategic deployment of BERA, the native token of the Berachain blockchain network.

Berachain

A decentralized, open-source, EVM-compatible layer-1 blockchain engineered for high throughput, low latency, and full compatibility with Ethereum tooling, smart contracts, and infrastructure. Berachain utilizes a novel Proof of Liquidity consensus mechanism.

Jason Hitchcock

Chief Executive Officer of Greenlane, with over 15 years of experience building and scaling revenue engines across SaaS, blockchain infrastructure, and decentralized finance.

BSQD Corp.

An entity that is wholly owned by Ben Isenberg, Greenlane's Chief Investment Officer, which may conduct significant transactions with the Counterparty to source BERA.

Yorkville Securities, LLC

The sales agent for Greenlane's $5.4 million at-the-market (ATM) offering of Class A common stock.

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What they’re saying

“Fiscal year 2025 marked a pivotal year for Greenlane as we initiated our Berachain-focused Digital Asset Treasury strategy and began deploying capital into the ecosystem. We took deliberate steps to reposition the Company, acquiring BERA and participating in Proof of Liquidity staking, while maintaining a disciplined approach to capital allocation and transparent reporting. These foundational actions reflect our conviction in the long-term potential of Berachain and our commitment to building value for shareholders on a per-share basis.”

— Jason Hitchcock, Chief Executive Officer

What’s next

The judge in the case will decide on Tuesday whether or not to allow Walker Reed Quinn out on bail.

The takeaway

Greenlane's strategic shift to a Berachain-focused digital asset treasury strategy reflects the company's conviction in the long-term potential of the Berachain ecosystem, but it also faces challenges such as a Nasdaq delisting notice and the need to execute a reverse stock split to regain compliance.