diff --git a/cloud/shepherd/equinix/manager/provisioner.go b/cloud/shepherd/equinix/manager/provisioner.go
new file mode 100644
index 0000000..3964334
--- /dev/null
+++ b/cloud/shepherd/equinix/manager/provisioner.go
@@ -0,0 +1,435 @@
+package manager
+
+import (
+	"context"
+	"errors"
+	"flag"
+	"fmt"
+	"sort"
+	"time"
+
+	"github.com/google/uuid"
+	"github.com/packethost/packngo"
+	"golang.org/x/time/rate"
+	"k8s.io/klog/v2"
+
+	"source.monogon.dev/cloud/bmaas/bmdb"
+	"source.monogon.dev/cloud/bmaas/bmdb/model"
+	"source.monogon.dev/cloud/lib/sinbin"
+	ecl "source.monogon.dev/cloud/shepherd/equinix/wrapngo"
+)
+
+// ProvisionerConfig configures the provisioning process.
+type ProvisionerConfig struct {
+	// OS defines the operating system new devices are created with. Its format
+	// is specified by Equinix API.
+	OS string
+	// MaxCount is the maximum count of managed servers. No new devices will be
+	// created after reaching the limit. No attempt will be made to reduce the
+	// server count.
+	MaxCount uint
+
+	// ReconcileLoopLimiter limits the rate of the main reconciliation loop
+	// iterating. As new machines are being provisioned, each loop will cause one
+	// 'long' ListHardwareReservations call to Equinix.
+	ReconcileLoopLimiter *rate.Limiter
+
+	// DeviceCreation limits the rate at which devices are created within
+	// Equinix through use of appropriate API calls.
+	DeviceCreationLimiter *rate.Limiter
+
+	// Assimilate Equinix machines that match the configured device prefix into the
+	// BMDB as Provided. This should only be used for manual testing with
+	// -bmdb_eat_my_data.
+	Assimilate bool
+
+	// ReservationChunkSize is how many Equinix machines will try to be spawned in a
+	// single reconciliation loop. Higher numbers allow for faster initial
+	// provisioning, but lower numbers decrease potential raciness with other systems
+	// and make sure that other parts of the reconciliation logic are ran regularly.
+	//
+	// 20 is decent starting point.
+	ReservationChunkSize uint
+}
+
+func (p *ProvisionerConfig) RegisterFlags() {
+	flag.StringVar(&p.OS, "provisioner_os", "ubuntu_20_04", "OS that provisioner will deploy on Equinix machines. Not the target OS for cluster customers.")
+	flag.UintVar(&p.MaxCount, "provisioner_max_machines", 50, "Limit of machines that the provisioner will attempt to pull into the BMDB. Zero for no limit.")
+	flagLimiter(&p.ReconcileLoopLimiter, "provisioner_reconciler_rate", "1m,1", "Rate limiting for main provisioner reconciliation loop")
+	flagLimiter(&p.DeviceCreationLimiter, "provisioner_device_creation_rate", "5s,1", "Rate limiting for Equinix device/machine creation")
+	flag.BoolVar(&p.Assimilate, "provisioner_assimilate", false, "Assimilate matching machines in Equinix project into BMDB as Provided. Only to be used when manually testing.")
+	flag.UintVar(&p.ReservationChunkSize, "provisioner_reservation_chunk_size", 20, "How many machines will the provisioner attempt to create in a single reconciliation loop iteration")
+}
+
+// Provisioner implements the server provisioning logic. Provisioning entails
+// bringing all available hardware reservations (subject to limits) into BMDB as
+// machines provided by Equinix.
+type Provisioner struct {
+	config       *ProvisionerConfig
+	sharedConfig *SharedConfig
+
+	// cl is the wrapngo client instance used.
+	cl ecl.Client
+
+	// badReservations is a holiday resort for Equinix hardware reservations which
+	// failed to be provisioned for some reason or another. We keep a list of them in
+	// memory just so that we don't repeatedly try to provision the same known bad
+	// machines.
+	badReservations sinbin.Sinbin[string]
+}
+
+// New creates a Provisioner instance, checking ProvisionerConfig and
+// SharedConfig for errors.
+func (c *ProvisionerConfig) New(cl ecl.Client, sc *SharedConfig) (*Provisioner, error) {
+	// If these are unset, it's probably because someone is using us as a library.
+	// Provide error messages useful to code users instead of flag names.
+	if c.OS == "" {
+		return nil, fmt.Errorf("OS must be set")
+	}
+	if c.ReconcileLoopLimiter == nil {
+		return nil, fmt.Errorf("ReconcileLoopLimiter must be set")
+	}
+	if c.DeviceCreationLimiter == nil {
+		return nil, fmt.Errorf("DeviceCreationLimiter must be set")
+	}
+	if c.ReservationChunkSize == 0 {
+		return nil, fmt.Errorf("ReservationChunkSize must be set")
+	}
+	return &Provisioner{
+		config:       c,
+		sharedConfig: sc,
+
+		cl: cl,
+	}, nil
+}
+
+// Run the provisioner blocking the current goroutine until the given context
+// expires.
+func (p *Provisioner) Run(ctx context.Context, conn *bmdb.Connection) error {
+
+	var sess *bmdb.Session
+	var err error
+	for {
+		if sess == nil {
+			sess, err = conn.StartSession(ctx)
+			if err != nil {
+				return fmt.Errorf("could not start BMDB session: %w", err)
+			}
+		}
+		err = p.runInSession(ctx, sess)
+
+		switch {
+		case err == nil:
+		case errors.Is(err, ctx.Err()):
+			return err
+		case errors.Is(err, bmdb.ErrSessionExpired):
+			klog.Errorf("Session expired, restarting...")
+			sess = nil
+			time.Sleep(time.Second)
+		case err != nil:
+			klog.Errorf("Processing failed: %v", err)
+			// TODO(q3k): close session
+			time.Sleep(time.Second)
+		}
+	}
+}
+
+type machineListing struct {
+	machines []uuid.UUID
+	err      error
+}
+
+// runInSession executes one iteration of the provisioner's control loop within a
+// BMDB session. This control loop attempts to bring all Equinix hardware
+// reservations into machines in the BMDB, subject to limits.
+func (p *Provisioner) runInSession(ctx context.Context, sess *bmdb.Session) error {
+	if err := p.config.ReconcileLoopLimiter.Wait(ctx); err != nil {
+		return err
+	}
+
+	providerC := make(chan *machineListing, 1)
+	bmdbC := make(chan *machineListing, 1)
+
+	klog.Infof("Getting provider and bmdb machines...")
+
+	// Make sub-context for two parallel operations, and so that we can cancel one
+	// immediately if the other fails.
+	subCtx, subCtxC := context.WithCancel(ctx)
+	defer subCtxC()
+
+	go func() {
+		machines, err := p.listInProvider(subCtx)
+		providerC <- &machineListing{
+			machines: machines,
+			err:      err,
+		}
+	}()
+	go func() {
+		machines, err := p.listInBMDB(subCtx, sess)
+		bmdbC <- &machineListing{
+			machines: machines,
+			err:      err,
+		}
+	}()
+	var inProvider, inBMDB *machineListing
+	for {
+		select {
+		case inProvider = <-providerC:
+			if err := inProvider.err; err != nil {
+				return fmt.Errorf("listing provider machines failed: %w", err)
+			}
+			klog.Infof("Got %d machines managed in provider.", len(inProvider.machines))
+		case inBMDB = <-bmdbC:
+			if err := inBMDB.err; err != nil {
+				return fmt.Errorf("listing BMDB machines failed: %w", err)
+			}
+			klog.Infof("Got %d machines in BMDB.", len(inBMDB.machines))
+		}
+		if inProvider != nil && inBMDB != nil {
+			break
+		}
+	}
+
+	subCtxC()
+	if err := p.reconcile(ctx, sess, inProvider.machines, inBMDB.machines); err != nil {
+		return fmt.Errorf("reconciliation failed: %w", err)
+	}
+	return nil
+}
+
+// listInProviders returns all machines that the provider thinks we should be
+// managing.
+func (p *Provisioner) listInProvider(ctx context.Context) ([]uuid.UUID, error) {
+	devices, err := p.sharedConfig.managedDevices(ctx, p.cl)
+	if err != nil {
+		return nil, fmt.Errorf("while fetching managed machines: %w", err)
+	}
+	var pvr []uuid.UUID
+	for _, dev := range devices {
+		id, err := uuid.Parse(dev.ID)
+		if err != nil {
+			klog.Errorf("Device ID %q is not UUID, skipping", dev.ID)
+		} else {
+			pvr = append(pvr, id)
+		}
+	}
+	sort.Slice(pvr, func(i, j int) bool {
+		return pvr[i].String() < pvr[j].String()
+	})
+	return pvr, nil
+}
+
+// listInBMDB returns all the machines that the BMDB thinks we should be managing.
+func (p *Provisioner) listInBMDB(ctx context.Context, sess *bmdb.Session) ([]uuid.UUID, error) {
+	var res []uuid.UUID
+	err := sess.Transact(ctx, func(q *model.Queries) error {
+		machines, err := q.GetProvidedMachines(ctx, model.ProviderEquinix)
+		if err != nil {
+			return err
+		}
+		res = make([]uuid.UUID, len(machines))
+		for i, machine := range machines {
+			id, err := uuid.Parse(machine.ProviderID)
+			if err != nil {
+				klog.Errorf("BMDB machine %s has unparseable provider ID %q", machine.MachineID, machine.ProviderID)
+			} else {
+				res[i] = id
+			}
+		}
+		return nil
+	})
+	if err != nil {
+		return nil, err
+	}
+	sort.Slice(res, func(i, j int) bool {
+		return res[i].String() < res[j].String()
+	})
+	return res, nil
+}
+
+// reconcile takes a list of machines that the provider thinks we should be
+// managing and that the BMDB thinks we should be managing, and tries to make
+// sense of that. First, some checks are performed across the two lists to make
+// sure we haven't dropped anything. Then, additional machines are deployed from
+// hardware reservations as needed.
+func (p *Provisioner) reconcile(ctx context.Context, sess *bmdb.Session, inProvider, inBMDB []uuid.UUID) error {
+	klog.Infof("Reconciling...")
+
+	bmdb := make(map[string]bool)
+	provider := make(map[string]bool)
+	for _, machine := range inProvider {
+		provider[machine.String()] = true
+	}
+	for _, machine := range inBMDB {
+		bmdb[machine.String()] = true
+	}
+
+	managed := make(map[string]bool)
+
+	// Some desynchronization between the BMDB and Provider point of view might be so
+	// bad we shouldn't attempt to do any work, at least not any time soon.
+	badbadnotgood := false
+
+	// Find any machines supposedly managed by us in the provider, but not in the
+	// BMDB, and assimilate them if so configured.
+	for machine, _ := range provider {
+		if bmdb[machine] {
+			managed[machine] = true
+			continue
+		}
+		if p.config.Assimilate {
+			klog.Warningf("Provider machine %s has no corresponding machine in BMDB. Assimilating it.", machine)
+			if err := p.assimilate(ctx, sess, machine); err != nil {
+				klog.Errorf("Failed to assimilate: %v", err)
+			} else {
+				managed[machine] = true
+			}
+		} else {
+			klog.Errorf("Provider machine %s has no corresponding machine in BMDB.", machine)
+			badbadnotgood = true
+		}
+	}
+
+	// Find any machines in the BMDB but not in the provider.
+	for machine, _ := range bmdb {
+		if !provider[machine] {
+			klog.Errorf("Provider device ID %s referred to in BMDB (from TODO) but missing in provider.", machine)
+			badbadnotgood = true
+		}
+	}
+
+	// Bail if things are weird.
+	if badbadnotgood {
+		klog.Errorf("Something's very wrong. Bailing early and refusing to do any work.")
+		return fmt.Errorf("fatal discrepency between BMDB and provider")
+	}
+
+	// Summarize all managed machines, which is the intersection of BMDB and
+	// Provisioner machines, usually both of these sets being equal.
+	nmanaged := len(managed)
+	klog.Infof("Total managed machines: %d", nmanaged)
+
+	if p.config.MaxCount != 0 && p.config.MaxCount <= uint(nmanaged) {
+		klog.Infof("Not bringing up more machines (at limit of %d machines)", p.config.MaxCount)
+		return nil
+	}
+
+	limitName := "no limit"
+	if p.config.MaxCount != 0 {
+		limitName = fmt.Sprintf("%d", p.config.MaxCount)
+	}
+	klog.Infof("Below managed machine limit (%s), bringing up more...", limitName)
+	klog.Infof("Retrieving hardware reservations, this will take a while...")
+	reservations, err := p.cl.ListReservations(ctx, p.sharedConfig.ProjectId)
+	if err != nil {
+		return fmt.Errorf("failed to list reservations: %w", err)
+	}
+
+	// Collect all reservations.
+	var toProvision []packngo.HardwareReservation
+	for _, reservation := range reservations {
+		if !reservation.Provisionable {
+			continue
+		}
+		if reservation.Device != nil {
+			if managed[reservation.Device.ID] {
+				continue
+			}
+		}
+		if p.badReservations.Penalized(reservation.ID) {
+			continue
+		}
+		toProvision = append(toProvision, reservation)
+	}
+
+	// Limit them to MaxCount, if applicable.
+	if p.config.MaxCount != 0 {
+		needed := int(p.config.MaxCount) - nmanaged
+		if len(toProvision) < needed {
+			needed = len(toProvision)
+		}
+		toProvision = toProvision[:needed]
+	}
+
+	// Limit them to an arbitrary 'chunk' size so that we don't do too many things in
+	// a single reconciliation operation.
+	if uint(len(toProvision)) > p.config.ReservationChunkSize {
+		toProvision = toProvision[:p.config.ReservationChunkSize]
+	}
+
+	if len(toProvision) == 0 {
+		klog.Infof("No more hardware reservations available, or all filtered out.")
+		return nil
+	}
+
+	klog.Infof("Bringing up %d machines...", len(toProvision))
+	for _, res := range toProvision {
+		p.config.DeviceCreationLimiter.Wait(ctx)
+		if err := p.provision(ctx, sess, res); err != nil {
+			klog.Errorf("Failed to provision reservation %s: %v", res.ID, err)
+			until := time.Now().Add(time.Hour)
+			klog.Errorf("Adding hardware reservation %s to sinbin until %s", res.ID, until)
+			p.badReservations.Add(res.ID, until)
+		}
+	}
+
+	return nil
+}
+
+// provision attempts to create a device within Equinix using given Hardware
+// Reservation rsv. The resulting device is registered with BMDB, and tagged as
+// "provided" in the process.
+func (pr *Provisioner) provision(ctx context.Context, sess *bmdb.Session, rsv packngo.HardwareReservation) error {
+	klog.Infof("Creating a new device using reservation ID %s.", rsv.ID)
+	hostname := pr.sharedConfig.DevicePrefix + rsv.ID[:18]
+	kid, err := pr.sharedConfig.sshEquinixId(ctx, pr.cl)
+	if err != nil {
+		return err
+	}
+	req := &packngo.DeviceCreateRequest{
+		Hostname:              hostname,
+		OS:                    pr.config.OS,
+		Plan:                  rsv.Plan.Slug,
+		ProjectID:             pr.sharedConfig.ProjectId,
+		HardwareReservationID: rsv.ID,
+		ProjectSSHKeys:        []string{kid},
+	}
+	nd, err := pr.cl.CreateDevice(ctx, req)
+	if err != nil {
+		return fmt.Errorf("while creating new device within Equinix: %w", err)
+	}
+	klog.Infof("Created a new device within Equinix (PID: %s).", nd.ID)
+
+	err = pr.assimilate(ctx, sess, nd.ID)
+	if err != nil {
+		// TODO(mateusz@monogon.tech) at this point the device at Equinix isn't
+		// matched by a BMDB record. Schedule device deletion or make sure this
+		// case is being handled elsewhere.
+		return err
+	}
+	return nil
+}
+
+// assimilate brings in an already existing machine from Equinix into the BMDB.
+// This is only used in manual testing.
+func (pr *Provisioner) assimilate(ctx context.Context, sess *bmdb.Session, deviceID string) error {
+	return sess.Transact(ctx, func(q *model.Queries) error {
+		// Create a new machine record within BMDB.
+		m, err := q.NewMachine(ctx)
+		if err != nil {
+			return fmt.Errorf("while creating a new machine record in BMDB: %w", err)
+		}
+
+		// Link the new machine with the Equinix device, and tag it "provided".
+		p := model.MachineAddProvidedParams{
+			MachineID:  m.MachineID,
+			ProviderID: deviceID,
+			Provider:   model.ProviderEquinix,
+		}
+		klog.Infof("Setting \"provided\" tag (ID: %s, PID: %s, Provider: %s).", p.MachineID, p.ProviderID, p.Provider)
+		if err := q.MachineAddProvided(ctx, p); err != nil {
+			return fmt.Errorf("while tagging machine active: %w", err)
+		}
+		return nil
+	})
+}