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SunnySide Digital (SunnySide) and Cryptech Solutions (Cryptech), two wholesale distributors and service providers for digital asset mining and HPC data center equipment, have joined forces to launch Sinteq Digital (Synteq).
Synteq Digital aims to meet the needs of the digital mining and HPC industries at scale by increasing the reach of its digital hardware wholesale business and launching new services.
“We are very excited to create a new market entrant by combining our respective teams, core values, and reputation to form Synteq,” said Taras Kulyk, CEO of Synteq and founder and former CEO of SunnySide, in a press release shared with bitcoin Magazine.
“This new entity will bring the scale and breadth of services to our enterprise and commercial scale customers and partners in the digital mining and HPC data center sectors. Our dynamic combination of leadership, technical strength and a strong track record of execution experience will be critical as we continue to grow our new verticals,” he added.
New Synteq services
Synteq's new offerings include acquisition, placement and wholesale of enterprise-focused solutions. GPU/HPC hardware; Just in time (JIT) Consignment spares and supplies for data centers and an enterprise fleet upgrade service model, including cleaning, upgrading and repair of older digital mining hardware.
With the expansion of its new verticals, Joe Stefanelli, President of Synteq and Founder and former CEO of Cryptech, is optimistic that his new company will quickly gain traction around the world.
“I see Synteq quickly becoming the global go-to platform for digital mining and HPC data centers,” Stefanelli said in the press release. “Our team’s focus is on delivering world-class services and solutions characterized by expertise, integrity and reliability.”
Synteq's agreement with Bitmain
One of Synteq’s first new partners will be Bitmain Technologies (Bitmain), a China-based company that is a leader in the production of bitcoin mining rigs. Synteq will be Bitmain’s exclusive distribution partner for the United States.
“This is the first time Bitmain has recognized partners in the industry,” Stefanelli told bitcoin Magazine in an interview. “We are the first company that will be a distributor (they call it Hashrate ambassador) for Bitmain.”
In addition to its agreement with Bitmain, Synteq will continue its partnerships with Rosseau Immersion and ePIC Blockchain among other existing partnerships with both SunnySide and Cryptech, according to Kulyk.
A reaction to industry consolidation
SunnySide and Cryptech decided to join forces due to the changing winds in the digital mining and HPC industry.
“The industry is going through a consolidation process,” Kulyk said.
“There are a lot of mergers and acquisitions and our clients are growing and getting bigger,” he added.
“We are now dealing with operators who have a gigawatt of power under operation and control, and they want someone who can deliver services and solutions at the scale they need in a timely manner, with reliability and professionalism.”
Stefanelli, who clarified that Synteq is not the result of a merger between SunnySide and Cryptech but a new entity, shared that it seemed logical to him that Cryptech and SunnySide would work together.
“There were a lot of synergies between what we both did and a lot of overlap with clients,” he said.
“We share many of the same values as individuals and as companies, we like to run our businesses in the same way and we were good competitors for each other,” he added.
“We really saw the benefit of bringing everyone together.”
