SunnySide Digital (SunnySide) and Cryptech Options (Cryptech), two wholesale distributors and repair suppliers for digital asset mining and HPC information middle tools, 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, stated 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 power, and a sturdy monitor document of execution expertise might 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 shortly acquire traction worldwide.
“I see Synteq shortly changing into the worldwide go-to platform for HPC and digital mining information facilities,” Stefanelli stated within the press launch. “Our crew’s focus is on delivering top-notch companies and options marked by experience, integrity, and reliability.”
Synteq’s Deal With Bitmain
One in all Synteq’s first new companions might be Bitmain Applied sciences (Bitmain), a China-based business chief in Bitcoin mining rig manufacturing. Synteq might 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.”
Except for 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 response to Kulyk.
A Response To Business 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,” stated Kulyk.
“There’s a ton of M&A and our purchasers are scaling up and getting larger,” he added.
“We’re now coping with operators which have a gigawatt of energy below operation and management, they usually need any person who can present companies 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 a variety of synergies between what we each did and a variety of overlap with purchasers,” he stated.
“We shared a variety of the identical values as people and as corporations, we prefer to run our corporations the identical means and we had been fairly good competitors to one another,” he added.
“We actually noticed the advantage of bringing everybody collectively.”