US Senate Approves GAIN Act Pushing AI Chipmakers to Serve America First
GAIN Act sparks fears of rising costs, export bans, and crumbling US hashrate dominance
The US Senate has passed a new law that could reshape the global technology and crypto landscape. The Guaranteeing Access and Innovation for National Artificial Intelligence Act of 2026 (GAIN Act), passed as part of the National Defense Authorization Act, requires chipmakers to prioritize American customers before exporting advanced AI and high-performance processors overseas.
The move is designed to ensure US companies have first access to critical computing resources. Under the GAIN Act, Congress gains authority to block export licenses for the most powerful AI chips, while any product containing an “advanced integrated circuit” will now need explicit export approval.
The legislation comes amid severe chip shortages. According to the advocacy group Americans for Responsible Innovation, major US firms have faced year-long delays for chips like Nvidia’s Blackwell series, which were sold out through 2024. Now, chipmakers must prove all domestic orders are fulfilled before receiving export approval.
However, the law’s future remains uncertain. The GAIN Act still requires approval from the House of Representatives and President before becoming law.
The potential fallout extends beyond AI. The global crypto mining industry—heavily dependent on affordable, high-performance hardware—faces mounting pressure. Trade tariffs introduced by President Trump earlier this year have already driven up hardware costs, pushing US-based miners into financial strain. CleanSpark was hit with $185 million in liabilities, while IREN faced a $100 million bill due to customs disputes.
If the GAIN Act’s export controls move forward, US miners could lose access to competitively priced equipment, ceding hashrate power to overseas rivals. Analysts warn this could derail the administration’s ambition to make the United States the world’s crypto capital.
