Bitcoin Mining and HPC Leaders Unite to Create Synteq Digital

SunnySide Digital (SunnySide) and Cryptech Options (Cryptech), two wholesale distributors and repair suppliers for digital asset mining and HPC knowledge middle 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 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 industrial scale shoppers and companions within the HPC & digital mining knowledge middle sectors. Our dynamic mix of management, technical power, and a strong monitor document of execution expertise will likely 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}; Just-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 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

One in all Synteq’s first new companions will likely be Bitmain Applied sciences (Bitmain), a China-based business chief in Bitcoin mining rig manufacturing. Synteq will likely 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 cope with Bitmain, Synteq will proceed its partnerships with Rosseau Immersion and ePIC Blockchain amongst different current partnerships from each SunnySide and Cryptech, in accordance with 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 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 underneath operation and management, they usually need someone 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 shoppers,” he stated.

“We shared a variety of the identical values as people and as corporations, we prefer to run our corporations 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.”

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