Turning an old phone into a crypto currency mining project

Hello everyone.

Berfore I write anything, I am aware that ARM processors are not nearly powerfull enought for this to pay off, but I have some spare time on my hands and an old android phone (samsung galaxy S) that has no other use whatsoever.

So, here is what I was thinking:

Is there a way to completely strip the phone of android, so it runs an os (preferrably a flavour of linux) that is as easy on resources as possible and is capable of running wireless drivers and mining software. My knowledge on this part is full of holes, so there are several questions I would like an answer to:

1. Can an android phone (running an ARM processor) run ONLY a distro of linux. I do not mind loosing the phone's capabilities (camera, GSM, touchscreen...). It needs to support a usb mouse and keyboard, a wireless connection and basically run as low on power as possible.
2. Where would I start when reading up on such a thing?
3. Is there already such a thing out there and I'm just incapable of finding it?

Again, I just want this to be a fun project, I bet a lot of you guys have useless old hardware laying around, let's put them to work

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