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 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 dimensions and breadth of companies to our enterprise and industrial scale shoppers and companions within the HPC & digital mining information middle sectors. Our dynamic mix of management, technical power, 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 embrace 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 enlargement 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 information facilities,” Stefanelli stated within the press launch. “Our staff’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 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 accomplice for the US.
“It is the primary time that Bitmain is acknowledging companions within the trade,” 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, based on 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 way of a consolidation,” stated Kulyk.
“There’s a ton of M&A and our shoppers are scaling up and getting larger,” 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 companies 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 a whole lot of synergies between what we each did and a whole lot of overlap with shoppers,” he stated.
“We shared a whole lot 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 good thing about bringing everybody collectively.”