Greenlane Holdings Announces Operating Cost Cuts And Reaffirms Long-Term BERA Accumulation Strategy

Greenlane is aligning its operating expenses with its digital asset treasury strategy, which is a simpler and lower overhead operating model than its legacy business of developing, manufacturing, and distributing consumer products. Cost saving initiatives include reducing headcount, exiting legacy warehouse operations, and reducing other public company costs. The Company continues to evaluate opportunities to further reduce its operating cost structure. These steps are intended to give the Company greater financial flexibility to pursue its BERA accumulation strategy. Separately, the Berachain Foundation has activated PoL Next, an upgrade designed to direct more of Berachain’s yield to BERA holders1. Greenlane management believes this upgrade may improve the long-term economics of holding BERA and is consistent with Greenlane’s treasury strategy. If PoL Next operates as the Berachain...