The US Senate has passed the GAIN Act, requiring chipmakers to first meet domestic demand, deepening a supply crunch for cryptocurrency mining.
US Senate Advances GAIN Act, Restricting AI Chip Exports and Threatening Crypto Mining
The US Senate has passed sweeping restrictions on the export of artificial intelligence chips under the National Defense Authorization Act (NDAA), including an amendment called the Guaranteeing Access and Innovation for National Artificial Intelligence Act (GAIN Act).
The bill would require manufacturers of high-performance processors to first meet domestic demand before exporting their products. It also gives Congress the power to block export licenses for the most powerful AI chips and requires permits for any products with “advanced integrated circuits.”
Analysts from Americans for Responsible Innovation recalled that in 2024, the Nvidia Blackwell line was sold out 12 months in advance, which demonstrates a capacity shortage.
According to the GAIN Act, export licenses will be granted only after all domestic orders are fulfilled, in order to prevent the outflow of strategic technologies abroad.
However, the document still has to pass the House of Representatives and be signed by the president, so the final version may be subject to changes.
Trade restrictions hit the mining industry
The new rules could increase the pressure on crypto mining, because the same AI chips are used in modern mining farms.
After President Donald Trump introduced reciprocal tariffs on Chinese goods in April, the cost of equipment increased and miners’ profitability fell.
American companies CleanSpark and IREN have already faced tax penalties: the former received $185 million in liabilities after customs claims about the Chinese origin of the equipment, the latter – $100 million in bills for increased duties.
Due to new export restrictions and chip shortages, American miners may lose competitiveness, losing a share of the global hashrate to foreign competitors.
“If the US cannot provide access to modern chips, its share of the global hashrate will decrease, which contradicts plans to make the country the ‘crypto capital of the world,’” analysts warn.
Outlook
The GAIN Act is a step towards full US control over the AI technology market, but its consequences could be painful for the crypto infrastructure.
If tariffs and export restrictions remain in place, the gap in equipment costs between the US and other countries will only grow, and American mining risks losing strategic positions in the global race for computational superiority.
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