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.
It's already in winter air now so it's actually pretty cool. Mine got hot during summer but I pushed it with lot's of CFM's. I don't live in a area evaporation cooling would would work with humidity.
This is like 15k CFM pushing air through where miners are:
Then the problem was I needed more exhust so I used a lot nicer gable fan - http://www.homedepot.com/p/QuietCool-Professional-3013-CFM-Power-Gable-Mount-Attic-Fan-AFG-PRO-3-0/206047381
But on temp it was 80F ambient maybe some day's in 90F at it's hottest. But with all the CFM's it made it through it no problems.