Monero mining will be available on HTC EXODUS 1S smartphones

by in Cryptocurrency News

Monero mining on HTC

Smartphone maker HTC has announced a partnership with Midas Labs ASIC device developer, so EXODUS 1S owners will be able to mine Monero in the DeMiner application. It is reported by The Block.

Related: Microsoft servers were infected for Vollar and Monero mining

According to the main blockchain developer of HTC Phil Chen, the upcoming application in the second quarter will provide cost-effective mining of XMR coins.

The application will automatically stop mining whenever the smartphone is disconnected from the network or will perform its basic functions.

Chen explained the expected effect of the company's initiative. He noted that the application will help to decentralize the network due to mining accessible on a wide mass on mobile devices.

According to Midas Labs, the privacy-oriented mining of XMR on desktops is economically inefficient with electricity costs of $0.156 a day based on 65 watts of power, only $0.06 can be earned from mining.

Founder and CEO Jri Lee noted that Midas Labs will allow EXODUS 1S owners to mine an average of at least $0.0038 per XMR per day, while the cost of electricity will be less than 50% of this value.

Recall, HTC is preparing to launch the EXODUS 5G Hub, a blockchain router with support for a full Bitcoin node and a number of other innovative features.