SunnySide Digital (SunnySide) and Cryptech Options (Cryptech), two wholesale distributors and repair suppliers for digital asset mining and HPC knowledge 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 size and breadth of providers to our enterprise and industrial scale shoppers and companions within the HPC & digital mining knowledge middle sectors. Our dynamic mix of management, technical energy, and a strong monitor report of execution expertise shall be pivotal as we proceed to develop our new verticals,” he added.
New Providers From Synteq
The brand new choices from Synteq embrace 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 acquire traction worldwide.
“I see Synteq shortly turning into the worldwide go-to platform for HPC and digital mining knowledge facilities,” Stefanelli mentioned within the press launch. “Our crew’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 shall be Bitmain Applied sciences (Bitmain), a China-based business chief in Bitcoin mining rig manufacturing. Synteq shall be Bitmain’s unique distribution companion for america.
“It is the primary time that Bitmain is acknowledging companions within the business,” Stefanelli instructed 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, based on Kulyk.
A Response To Trade Consolidation
SunnySide and Cryptech determined to hitch forces due to shifting winds within the digital mining and HPC business.
“The business goes by means of a consolidation,” mentioned Kulyk.
“There’s a ton of M&A and our shoppers are scaling up and getting greater,” he added.
“We’re now coping with operators which have a gigawatt of energy below operation and management, and so they need any individual who can present providers and options on the scale that they want in a well timed style 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 quite a lot of synergies between what we each did and quite a lot of overlap with shoppers,” he mentioned.
“We shared quite a lot of the identical values as people and as firms, we wish to run our firms the identical approach and we had been fairly good competitors to one another,” he added.
“We actually noticed the good thing about bringing everybody collectively.”
