SunnySide Digital (SunnySide) and Cryptech Solutions (Cryptech), wholesale distributors and service providers of digital asset mining equipment and high-performance computing data centers, have joined forces to launch Syntec Digital (Syntec).
Synteq Digital aims to meet the needs of the digital mining and high-performance computing industries on a large scale by expanding its digital hardware wholesale business as well as introducing new services.
“We are very excited to create a new market player by combining our respective teams, core values, and reputation to form Synteq,” Taras Kulik, CEO of Synteq and founder and former CEO of SunnySide, said in a press release shared with Bitcoin Magazine.
“These new entities will provide a broad range of services to our corporate and enterprise customers and partners in the high-performance data center and digital mining sectors. Our dynamic combination of leadership, technical strength and strong track record of execution will be pivotal as we continue to grow our new verticals,” he added.
New services from Synteq
Synteq’s new offerings include purchasing, sharing and wholesale of enterprise-focused products. Graphics Processing Unit/High-performance computing devices; Just-in-time (JIT) delivery Data center parts and supplies; and an enterprise fleet modernization service model, which includes cleaning, updating, and repairing old digital mining hardware.
As its new verticals expand, Joe Stefanelli, Synteq’s president and founder and former CEO of Cryptech, is optimistic that his new company will quickly gain momentum around the world.
“I see Synteq quickly becoming the global platform of choice for high-performance data centers and digital mining,” Stefanelli said in the press release. “Our team is focused on delivering first-class services and solutions that are characterized by expertise, integrity, and reliability.”
Synteq Deal with Bitmain
Bitmain Technologies (Bitmain), a leading Chinese Bitcoin mining hardware manufacturer, will be one of Synteq’s first new partners. Synteq will be Bitmain’s exclusive distribution partner in the United States.
“This is the first time Bitmain has recognized its industry partners,” Stefanelli said in an interview with Bitcoin Magazine. “We are the first company that will be a distributor — they call it a Hashrate Ambassador — for Bitmain.”
Aside from its deal with Bitmain, Synteq will continue its partnerships with Rosseau Immersion and ePIC Blockchain Other existing partnerships include those from both SunnySide and Cryptech, according to Kulick.
Reaction to industry consolidation
SunnySide and Cryptech have decided to join forces due to the changes taking place in the digital mining and high-performance computing industries.
“The industry is going through a consolidation phase,” Kollek said.
“There are a lot of mergers and acquisitions and our clients are expanding and getting bigger,” he added.
“We are now dealing with operators who have gigawatts of power under operation and control, and they want someone who can deliver the services and solutions at the scale they need in a timely manner with reliability and professionalism.”
Stefanelli explained that Synteq is not the result of a merger between SunnySide and Cryptech but is a completely new entity, and shared that it makes sense for Cryptech and SunnySide to work together.
“There was a lot of synergy between what we did together and a lot of overlap with customers,” he said.
“We shared a lot of common values as individuals and as companies, we like to run our companies the same way and we were good competitors to each other,” he added.
“We really saw the benefit of bringing everyone together.”