Bitcoin Miners Shift Focus to AI Amid CLARITY Act Failure
Veteran investor Ross Gerber expressed his disappointment over the Senate's failure to advance the CLARITY Act, which he believes is another setback for Bitcoin (BTC). The legislation aimed to establish a federal framework distinguishing digital commodities from securities under SEC jurisdiction. However, it fell short of the 60 votes needed to advance.
Gerber reacted by stating that 'No Clarity. Another fail for Bitcoin. I think all the miners became AI data centers…' He suggested that Bitcoin mining companies have defected to AI infrastructure development, redirecting their capacity from pure-play BTC mining.
The CLARITY Act sought to clarify the regulatory environment for digital commodities and securities. The SEC had previously clarified that proof-of-work mining activities do not fall under federal securities laws. However, the Senate's failure to advance the bill may lead to further regulatory uncertainty.
Notably, several Bitcoin miners have started providing infrastructure for AI use cases. A CoinShares report noted that mining revenue is projected to plummet from around 85% of total revenue in early 2025 to less than 20% by the end of 2026 for companies with secured AI contracts. Gerber remains bullish on BTC and has no plans to sell his holdings, stating he would start buying more once the next halving comes around in April 2028.
At the time of writing, BTC was trading at $75,816, down 2.50% in the last 24 hours, according to data from Benzinga Pro.