Users of the smartphone Exodus 1S from Taiwan electronics manufacturer HTC will be able to mine Monero through the application DeMiner, created by chip developer Midas Labs.
To date, the DeMiner application is under development, Midas Labs plans to release it this quarter. The app will automatically stop mining cryptographic material if a person starts using the device or disconnects it from the power source.
HTC's head of decentralisation Phil Chen said DeMiner will reduce mining costs and make it more decentralised. Chen believes the cryptographic world "suffers" from the dominance of giant mining pools with large computing power. To solve this problem as effectively as possible, we need to make it possible for anyone to use only a mobile phone for cryptocurrency mining. This will motivate individual minimers and contribute to decentralization of the network.
According to the CEO of Midas Labs and Professor Jri Lee of National University of Taiwan, minting Monero on computers is unprofitable. A typical laptop can produce XMR at about $0.06 per day with a power consumption of 65 watts, which carries a daily cost of about $0.156. EXODUS 1S users will be able to mine XMR at an average cost of $0.0038 per day, and their energy costs will be half that amount. According to these figures, the mobile miner will earn a very impressive amount of — about $0.70 per year.
Recall that in early March, HTC was planning to release a new smartphone based on block — EXODUS 5G Hub — with the ability to run the full Bitcoin node, and in November was going to add support for Binance Chain in a special version of the smartphone Exodus.
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