BitMine stock falls after CEO change and board appointments
CENTENNIAL, Colo. - Nuburu, Inc. (NYSE American:BURU) reported Thursday it is making progress on its Transformation Plan to build a unified defense-tech platform through strategic acquisitions while maintaining a strong cash position. Trading at $0.29, the stock has experienced high volatility recently, dropping nearly 14% over the past week despite posting a remarkable 104% gain over the last six months, according to InvestingPro data.
The company is advancing acquisition initiatives across three primary targets: Maddox Defense’s drone portfolio, Tekne S.p.A.’s special-mission vehicles, and Orbit S.r.l.’s critical-infrastructure software. Nuburu has already secured a 10.7% equity stake in Orbit and aims to exceed 20% ownership by year-end.
"We are executing precisely where we committed to investors — expanding a vertically integrated defense-tech platform while maintaining capital discipline," said Alessandro Zamboni, Executive Chairman and Co-Chief Executive Officer of Nuburu.
The company also reported it is proceeding with the acquisition of a blue-laser technology business that would provide engineers, production facilities, and an established customer base spanning civil and military sectors.
Nuburu Defense anticipates initial billings of approximately $500,000 in the fourth quarter of 2025, which the company expects will form the foundation for revenue growth in 2026 as acquisitions begin consolidation.
The company has strengthened its organizational structure by appointing a financial controller, establishing a revenue office to support subsidiaries, and creating an internal tech think tank unit.
Nuburu is focusing on finalizing strategic acquisitions, completing regulatory processes, and developing synergies among acquired businesses to create what it describes as a unique, scalable platform targeting NATO markets and mission-critical environments.
The information in this article is based on a company press release statement from Nuburu, Inc.
In other recent news, Nuburu Inc. has completed the first phase of its acquisition of Orbit S.r.l., securing a 10.7% equity stake with an initial $1.5 million investment. The company plans an additional $3.5 million investment to gain majority ownership of the Italian software firm, which specializes in operational resilience and crisis management. In a related development, Nuburu announced a Strategic Framework Agreement for a joint venture with Maddox Defense Incorporated, focusing on advanced drone systems for military and commercial use. This joint venture is expected to target a NATO UAV defense market opportunity valued at approximately $7-$10.3 billion annually.
Additionally, Nuburu received a warning letter from NYSE American LLC for non-compliance with disclosure rules. The warning highlights a failure to provide required advance notification before issuing a press release about the implementation of a dual-CEO structure. This development is part of the company’s transformation plan. Despite these challenges, Nuburu continues to focus on strategic expansions and partnerships to enhance its market presence.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.