The Norway-based technology and operations company operating in the blockchain industry, DLTx has officially acquired US-based DSM Tech Enterprises LLC, a Bitcoin mining and large scale Filecoin operations firm, to double its existing Filecoin infrastructure.
DLTx, a public company listed on Euronext, signed a letter of intent in November last year to acquire DSM.
With the acquisition, DSM has officially become a part of DLTx alongside the company’s other three investment subsidiaries: Afton Blockchain LLC, FilTech SPV LCC and Midwest Blockchain Inc.
DSM’s team of 12 technical resources and 4 operational resources are expected to now join DLTx’s.
Further, the acquisition means that DLTx will now have additional data center operations in Oklahoma and Kansas City in the United States, as well as double its mining output of Filecoin, the decentralized storage network that lets anyone rent out storage space.
“Through the DSM acquisition, DLTx has added market-leading Bitcoin technical expertise that has overseen more than 1.2 gigawatts of high compute infrastructure, globally. This operational experience, combined with DLTx’s existing capabilities and network will enable significant growth in DLTx’s already sizable Bitcoin interests,” DLTx said in a statement on Friday.
Additionally, the combined business provides expanded opportunities for investors to participate in Special Purpose Vehicles for investment in high-margin protocol mining and services, the statement read.
The Chief Executive Officer of DLTx, Thomas Christensen, said the merger of both companies meant they now had greater man-power, experience and technical knowledge.
“The merger of DSM Tech Enterprises with DLTx is a significant strategic event that immediately doubled the company’s revenue stream from the Filecoin network, supporting the ambitions of the companies together becoming the largest decentralized storage provider in the world,” Christensen added.
On his part, the Chief Operating Officer of DSM, Simon Campbell, believes both companies will see huge leaps in the coming months because of the alignment.
Campbell explained: “We see huge opportunities in combining the DSM team and DLTx team’s complementary skill sets and experiences, each filling gaps and augmenting the other—in the case of DLTx, comprehensive blockchain industry expertise and network, coupled with the financial markets and investor experience to enable significant growth through access to capital, combined with DSM’s deep operational experience in tech deployment and commercial execution at scale.
“Finally, by combining the businesses, it creates a single roadmap where the ability to succeed through direct coordination is exponentially faster and greater than could be achieved in parallel as two separate entities.”
DLTx’s Ambitious Targets
According to DLTx, DSM configures, builds and deploys high-compute hardware solutions that support big picture protocols. In addition, the US company has global experience in the design, configuration and operation of tier 3 datacenters, it added.
As part of its team, the Norwegian company pointed out, DSM will continue to build one of the largest US-based mining and storage infrastructures for Filecoin.
“Through a scaling of the model pioneered by DSM, DLTx will deploy hundreds of Petabytes of storage making the company one of the biggest global providers of storage to the Filecoin network and one of the largest outside of China,” the public company said.
With the combined capabilities, DLTx will pursue expanded protocol infrastructure opportunities in distributed communication and blockchain infrastructure relays, the firm added.
The company added: “Additionally, by onboarding DSMs team, DLTx can leverage the significant commercial opportunities afforded by its scale.
“This includes maximizing the protocol rewards for securing large enterprise storage data sets as well as developing, investing or licensing software that helps customers leverage the potential of Filecoin in their organizations.”
