SunnySide Digital (SunnySide) and Cryptech Options (Cryptech), two wholesale distributors and repair suppliers for digital asset mining and HPC knowledge heart tools, 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 companies.
“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, stated in a press launch shared with Bitcoin Journal.
“This new entity will present the size and breadth of companies to our enterprise and industrial scale purchasers and companions within the HPC & digital mining knowledge heart sectors. Our dynamic mix of management, technical energy, and a sturdy observe file of execution expertise might be pivotal as we proceed to develop our new verticals,” he added.
New Companies 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 elements & 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 achieve traction worldwide.
“I see Synteq rapidly turning into the worldwide go-to platform for HPC and digital mining knowledge facilities,” Stefanelli stated within the press launch. “Our group’s focus is on delivering top-notch companies and options marked by experience, integrity, and reliability.”
Synteq’s Deal With Bitmain
Certainly one of Synteq’s first new companions might be Bitmain Applied sciences (Bitmain), a China-based trade chief in Bitcoin mining rig manufacturing. Synteq might be Bitmain’s unique distribution associate 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.”
Except for 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 line with Kulyk.
A Response To Trade Consolidation
SunnySide and Cryptech determined to hitch forces due to shifting winds within the digital mining and HPC trade.
“The trade goes by a consolidation,” stated 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 anyone 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 a number of synergies between what we each did and a number of overlap with purchasers,” he stated.
“We shared a number of the identical values as people and as firms, we prefer to run our firms the identical manner and we had been fairly good competitors to one another,” he added.
“We actually noticed the advantage of bringing everybody collectively.”