SunnySide Digital (SunnySide) and Cryptech Options (Cryptech), two wholesale distributors and repair suppliers for digital asset mining and HPC information middle gear, have joined forces to launch Synteq Digital (Synteq).
Synteq Digital goals to fulfill the wants of the digital mining and HPC industries at scale by rising the attain of its digital {hardware} wholesaling enterprise in addition to rolling out new providers.
“We’re very excited to create a brand new market participant by combining our respective groups, core values, and reputational cache to kind Synteq,” Taras Kulyk, CEO of Synteq and founder and former CEO of SunnySide, mentioned in a press launch shared with Bitcoin Journal.
“This new entity will present the dimensions and breadth of providers to our enterprise and industrial scale purchasers and companions within the HPC & digital mining information middle sectors. Our dynamic mix of management, technical power, and a strong monitor file of execution expertise will probably be pivotal as we proceed to develop our new verticals,” he added.
New Providers From Synteq
The brand new choices from Synteq embody procurement, colocation and wholesaling of enterprise-focused GPU/HPC {hardware}; Simply-In-Time (JIT) DataCenter consignment components & provide; and an Enterprise Fleet Refresh Service Mannequin, which incorporates cleansing, upgrading and repairing older digital mining {hardware}.
With the enlargement of its new verticals, Joe Stefanelli, Synteq President and founder and former CEO of Cryptech, is optimistic that his new firm will shortly achieve traction worldwide.
“I see Synteq shortly changing into the worldwide go-to platform for HPC and digital mining information facilities,” Stefanelli mentioned within the press launch. “Our workforce’s focus is on delivering top-notch providers and options marked by experience, integrity, and reliability.”
Synteq’s Deal With Bitmain
One in every of Synteq’s first new companions will probably be Bitmain Applied sciences (Bitmain), a China-based trade chief in Bitcoin mining rig manufacturing. Synteq will probably be Bitmain’s unique distribution companion for the US.
“It is the primary time that Bitmain is acknowledging companions within the trade,” Stefanelli advised Bitcoin Journal in an interview. “We are the first firm that’ll be a distributor — they name it a Hashrate Ambassador — for Bitmain.”
Other than its cope with Bitmain, Synteq will proceed its partnerships with Rosseau Immersion and ePIC Blockchain amongst different current partnerships from each SunnySide and Cryptech, in accordance with Kulyk.
A Response To Trade Consolidation
SunnySide and Cryptech determined to affix forces due to shifting winds within the digital mining and HPC trade.
“The trade goes by means of a consolidation,” mentioned Kulyk.
“There’s a ton of M&A and our purchasers are scaling up and getting greater,” he added.
“We’re now coping with operators which have a gigawatt of energy beneath operation and management, and so they need someone who can present providers and options on the scale that they want in a well timed vogue with reliability in addition to professionalism.”
Stefanelli, who clarified that Synteq isn’t the results of a merger between SunnySide and Cryptech however a brand new entity all collectively, shared that it felt logical for Cryptech and SunnySide to work collectively.
“There have been loads of synergies between what we each did and loads of overlap with purchasers,” he mentioned.
“We shared loads of the identical values as people and as corporations, we prefer to run our corporations the identical manner and we had been fairly good competitors to one another,” he added.
“We actually noticed the advantage of bringing everybody collectively.”