US Senate passes GAIN Act, prioritizing domestic AI and HPC chip sales
The US Senate has advanced the Guaranteeing Access and Innovation for National Artificial Intelligence Act of 2026 (GAIN Act) as an amendment to the National Defense Authorization Act. This legislation mandates that AI and high-performance chipmakers prioritize domestic orders before exporting their products. Additionally, Congress gains the authority to deny export licenses for high-end AI processors and requires licenses for all products containing advanced integrated circuits. Recent supply chain issues have led US firms to experience significant chip backlogs, which has complicated the semiconductor market. The GAIN Act's passage may further strain the already challenged crypto mining industry, which relies heavily on international supplies affected by trade tensions. Tariffs introduced by the US administration have made it more expensive to acquire mining hardware, impacting profit margins. For instance, CleanSpark and IREN, two US-based mining companies, faced increased tariffs and costs related to their hardware, further jeopardizing their operations and the overall competitiveness of US miners in the global market. The GAIN Act still needs approval from the House of Representatives and the President before becoming law, making its future uncertain.
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