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 satisfy 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 companies.
“We’re very excited to create a brand new market participant by combining our respective groups, core values, and reputational cache to type 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 size and breadth of companies to our enterprise and business scale purchasers and companions within the HPC & digital mining information middle sectors. Our dynamic mix of management, technical energy, and a strong monitor document 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 growth of its new verticals, Joe Stefanelli, Synteq President and founder and former CEO of Cryptech, is optimistic that his new firm will rapidly acquire traction worldwide.
“I see Synteq rapidly 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 companies and options marked by experience, integrity, and reliability.”
Synteq’s Deal With Bitmain
Considered one of Synteq’s first new companions will probably be Bitmain Applied sciences (Bitmain), a China-based business chief in Bitcoin mining rig manufacturing. Synteq will probably be Bitmain’s unique distribution companion for america.
“It is the primary time that Bitmain is acknowledging companions within the business,” Stefanelli informed Bitcoin Journal in an interview. “We are the first firm that’ll be a distributor — they name it a Hashrate Ambassador — for Bitmain.”
Apart from its take care of Bitmain, Synteq will proceed its partnerships with Rosseau Immersion and ePIC Blockchain amongst different current partnerships from each SunnySide and Cryptech, in response to Kulyk.
A Response To Trade Consolidation
SunnySide and Cryptech determined to affix forces due to shifting winds within the digital mining and HPC business.
“The business goes by way 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, they usually need any individual who can present companies and options on the scale that they want in a well timed trend 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 numerous synergies between what we each did and numerous overlap with purchasers,” he mentioned.
“We shared numerous the identical values as people and as corporations, we wish to run our corporations the identical means and we have been fairly good competitors to one another,” he added.
“We actually noticed the advantage of bringing everybody collectively.”