Depending on your costs for electricity and hardware, you could still make a profit.
The question is does buying coins make a lot more profit.
Because so many people are finding out about crypto coins at the moment, coin prices are going up, and it seems like buying coins is better for now.
I bought some hardware a couple months ago.  I think I should have started with just buying coins, and waited to buy some mining hardware once coin prices aren't increasing so quickly.