I think it is a good idea, but you need to ensure the ICO investors a guaranteed return. You can do this by spending 50% of the ICO funds on mining gear and keep the other 50% of the funds in escrow. U also need to make daily video/photo updates so we can see the progress, transparency and consistency is the key. This will lead to a great and profitable project. It will cost you alot of time and effort and don't expect big profits at once.