Consumer electronics giant HTC has made it possible for users to mine Monero (XMR) directly via their “EXODUS 1S” smartphone.

in Advertising Released on Friday, HTC said it has partnered with chip design firm ASIC Midas Labs.

Midas Labs is developing an app called DeMiner, which is expected to be available in the second quarter of 2020.

The app is designed to automatically disable mining when the phone is in regular use or when the charger is not connected to the phone, according to the announcement.

Phil Chen, Chief Decentralization Officer at HTC, stated that DeMiner will help decentralize the mining process and make it cost-effective, stating in this regard:

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The world of crypto is threatened by the control of its mining process through giant mining farms, the most effective way to eliminate this problem is to make mining accessible to the masses, through the mobile phone.

This application makes smartphone mining cost-effective, providing incentives for individual miners and helping to decentralize the network.

According to Midas Labs, mining Monero (XMR), a privacy-centric cryptocurrency, on desktop computers is not cost-effective.

The company said that a typical laptop computer can extract XMR equivalent to about $0.06 per day by burning 65 watts of power, which costs approximately $0.156 per day meaning it is a losing option.

Jerry Lee, founder and CEO of Midas Labs and a professor at National Taiwan University, said:

Midas Labs enables EXODUS 1S users to extract at least $0.0038 of XMR per day on average, while electricity costs less than 50%

In other news, Midas Labs yesterday also raised an undisclosed amount in an initial funding round, led by Chen’s subsidiary Proof of Capital.

Chen said:

I am excited about our investment in Midas Labs where they apply world-class semiconductor design to mobile mining, and most importantly, their team has fundamental value in promoting decentralization and creating a more inclusive monetary and financial system.

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HTC has taken several initiatives related to crypto and blockchain, most recently the company introduced a blockchain router that allows customers to run an entire Bitcoin node from their homes. EXODUS phones also feature a built-in cryptocurrency wallet called “Zion Vault.”

Read also:

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HTC Smartphone Capable of Running a Full “Node” on the Bitcoin Network