GAIN Act: Senate Passes AI Chip Priority Bill That Could Impact Crypto Mining
The U.S. Senate approved the GAIN AI Act with a 77-20 vote, embedding it within the annual defense spending bill. The legislation mandates that chip manufacturers like Nvidia and AMD prioritize American buyers over foreign clients, particularly those in China, for high-performance AI chips. Processors with a processing performance score of 2,400 or higher face export restrictions, while those scoring 4,800 or above, including Nvidia’s H100 and B300 models, are banned from export entirely.
Senator Elizabeth Warren emphasized the bill’s intent to ensure American businesses aren’t overshadowed by foreign tech giants in securing advanced AI hardware. The move has drawn industry pushback and White House concerns, with potential Ripple effects for crypto miners reliant on these chips for mining operations.
