Its all about risk versus reward. When I first learned about crypto I only thought about mining. Yet as I learned more I realized most earning potential was not necessary in mining. The cost for mining bitcoin is likely one of the most expensive compared to other cryptos. Yet the value of bitcoin allows many to profit from mining it. If trend continues this icerockmining does sound attractive. Yet as you mentioned anywhere below $3k per bitcoin and this becomes likely unprofitable.

With all mining if the crypto falls to far it will become unprofitable to mine. Only the long term believers of crypto would hold as they see evaluations rising in the future.

I have been eyeing on WATTS and seeing how that is similar but never took off in evaluation I will sit this one out and see how it goes.