An ICO would make it profitable if the coin had a following and a decent price. I got out of the mining game because Florida is too hot to keep home mining profitable and the power cost is to great for me.
The heat is a challenge for anyone that setup's a decent amount of miners. I had to do a lot off CFM's of fans to get through the summer.
I'm lucky winter is coming and it's cooling down. But for initial investment I now can mine during summers from this point on with using fan's and not AC which saves a lot of money.