Norwegian technology firm offering blockchain technology services, DLTx, has formally purchased DSM Tech Enterprises, an American company that mines Bitcoin and operates Filecoin on a large scale. DLTx aims to double its current infrastructure for mining Filecoin with the new acquisition.
The process leading to the formal acquisition began way back in November 2021 when DLTx signed a document showing their intentions to buy the American Bitcoin mining firm, DSM. The reports say that DLTx also aims to lead the rest of the world’s decentralized storage provider industry as soon as possible.
DLTx’s investment subsidiaries have increased to four through the latest acquisition. The buying company awaits DSM’s team of 16 technical and operational resources to join DLTx’s team.
Also, the latest alignment implies that DLTx will now see twice its mining production of Filecoin, a non-centralized storage chain that allows users to rent virtual storage. It also means the Norwegian outlet would have more centers for data operations in the US States of Oklahoma and Missouri.
According to DLTx’s statement on Friday, this merger means an improvement in the company’s technical expertise. The company also adds industry-leading technical resources that have supervised over 1 Gigawatt of hi-tech infrastructure through the alignment. It expects the new subsidiary to help the company record massive growth in its Bitcoin interests.
Moreover, the merger of the two businesses created more avenues for investors to participate in what the report termed “Special Purpose Vehicles.” These pieces of machinery would allow users to invest in high-end protocol services.
What the CEOs Are Saying
Thomas Christensen, CEO of DLTx, asserted that merging both firms would improve their experience and technical resources. Christensen also said that the merger between both firms had instantly doubled their revenue streams.
Thomas Christensen also asserted that the merger lends crucial support to his company’s goal of becoming the biggest provider of storage services in the decentralized ecosystem globally.
Also commenting on the event, Simon Campbell, DSM’s CEO, explained that the merger would provide an avenue for both firms to bring complementary resources to support the other. Campbell went on to say that he expects to see massive growth in the following months due to the deal.
Simon Campbell highlighted DSM’s strength as thorough experience in the technical operation services at a large scale. He also described DLT’s assets to include detailed expertise in the blockchain industry with enough experience in the financial markets to drive sustainable growth.
DLTx’s Long-Term Goals
According to the Norwegian organization, DSM will keep building one of America’s most significant mining and storage structures for FiIL. The mother firm hopes to scale up models inspired into one of the world’s largest storage providers on Filecoin outside China.
Additionally, DLTx intends to pursue extended avenues for protocol infrastructure toward advancing the organization’s overall blockchain infrastructure.
DLTx also added that the merger would assist it in leveraging the massive commercial opportunities which DSM’s team brings on board. That, it says, would be possible when it develops, invest, or license software that could assist corporate organizations in leveraging Filecoin’s potential.
The price of Filecoin is about 25.3 USD at the time of this report.