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.
I did a little most of time it was 80's or less. The 90 day's I did not enjoy that's what caused me getting the big fan's. And it worked perfect with the new gable fan it could push air out very quickly. Part of it is that it is hot when you run 12-14k watts in a area of miners.
Now it's winter weather for most part and very cool. So great weather right now. And most likely will remain this way till summer.