The beta phase from July is over and Google now announced the availability of AdSense for Mobile, a program that contextually targets ads to mobile website content. This makes absolutely sense! The ever growing mobile web has been ignored for too long.
AdSense for Mobile will be available in the following countries: US, England, France, Italy, Germany, Spain, Ireland, Russia, Netherlands, Australia, India, China and Japan.
I wasn’t part of the invited beta testers but I hope that it’ll be well adapted to the mobile world: no scripts, no big towers/images, not increasing significally page size,…
And it seems that it is! 
It supports Text Ad formats only and it doesn’t use any scripts (which would have really surprised me). Instead it generates server-side code.
The following server-side languages are supported:
- PHP Version 4.3.0 or higher
- CGI/Perl Version 5.8 or higher
- JSP Version 1.2 or higher
- ASP Version 3.0 or higher
And what about ColdFusion ?!
The mobile sites itself must be written in WML, XHTML or CHTML. You can find all requirements here.
See official press release here
Official blog entry
Adsense for mobile advertising dotMobi eBusiness Google mobile web Search engines 
