SunnySide Digital (SunnySide), a wholesaler and service provider of digital asset mining and HPC data center equipment, and Cryptech Solutions (Cryptech) have joined forces to Shintech Digital (Syntech).
By expanding the scope of its digital hardware wholesale business and rolling out new services, Synteq Digital aims to meet the needs of the digital mining and HPC industry on a large scale.
“We are excited to combine our respective teams, core values and reputations to form Synteq and create new market participants,” Taras Kulik, CEO of Synteq and founder and former CEO of SunnySide, said in a press release shared with Bitcoin Magazine.
“This new organization will provide scale and breadth of services to enterprise and commercial-scale clients and partners in the HPC and digital mining data center sectors. Its dynamic blend of strong track record of leadership, technical capabilities and execution experience will be critical as we continue to grow new verticals,” he added.
New Synteq Services
Synteq’s new services include corporate product sourcing, colocation and wholesale. Graphics Processor/HPC hardware; Just-in-Time (JIT) An enterprise fleet refresh service model that includes data center consignment parts and supplies, and cleaning, upgrading and repairing old digital mining hardware.
Joe Stefanelli, president and founder of Synteq and former CEO of Cryptech, is optimistic that the new company will quickly gain popularity around the world as it expands into new areas.
“We believe Synteq will rapidly grow into a global platform for HPC and digital mining data centers,” Stefanelli said in a press release. “Our team is focused on delivering first-class services and solutions characterized by expertise, integrity and reliability.”
Shintech and Bitmain sign deal
One of Synteq’s first new partners is China-based Bitmain Technologies (Bitmain), an industry leader in manufacturing bitcoin mining equipment. Synteq will become Bitmain’s exclusive distribution partner in the United States.
“This is the first time Bitmain is recognizing an industry partner,” Stefanelli told Bitcoin Magazine in an interview. “We are the first company to become a Bitmain distributor (which they call a hashrate ambassador).”
In addition to the Bitmain deal, Shintech Rosso Immersion and ePIC Blockchain According to Kulyk, this is one of the existing partnerships between both companies, SunnySide and Cryptech.
Reaction to industry consolidation
SunnySide and Cryptech decided to join forces following changing winds in the digital mining and HPC industry.
“There’s a lot of consolidation going on in the industry,” Kulik said.
“There’s a ton of M&A going on and our clients are getting bigger and larger,” he added.
“We are currently working with operators who operate and manage gigawatts of power, and they need people who can deliver reliable, expert and timely services and solutions at the scale they need.”
Stefanelli clarified that Synteq is not the result of a merger between SunnySide and Cryptech, but an entirely new organization, and said that he felt it made sense for Cryptech and SunnySide to join forces.
“There was a lot of synergy between our two efforts and a lot of overlap with our customers,” he said.
“We share a lot of the same values both personally and corporately, we like to run companies the same way and we’ve been pretty good competitors for each other,” he added.
“It really showed us the benefits of bringing everyone together.”
