Regulatory uncertainty around Texas data center approvals is creating near-term market pricing pressure on Bitcoin mining stocks

"The CLARITY Act is stalled, Polymarket traders give it just a 21% chance of passing this year, and the bitcoin price has not cleared $65,000 since the selloff from $93,000 began. The bitcoin price keeps waiting for clarity that never arrives complete."

"In Tuesday's premarket trading, Cipher Digital shares were down more than 7%. It underscores how quickly market participants can price in regulatory uncertainty, especially for firms tied to the broader data center and power-capacity conversation."