I have a power rate of 6.8c/kWh. I was running 100% profit ratio prior to today. Today, I'm at break even, but a reduction in network hashrate could change that.
I count my miner cost at zero, because i used trading profits to buy them.
Mining gives me a fixed cost, or fixed monthly input towards an investment. I plan to hold for at least 7 years when I hit my retirement date. Kind of like my elected contribution towards a 401k.
I can take tax deductions by filing taxes as a business operation.
And it only one of my long term investments.
I am similar to you.
At the moment my power deal is cheap.
I have 1.4ph fully paid gear.
most of it is faster then s9s.
only 300th ls s9.
so the other gear will turn profit.
but for a new guy buying the gear ⚙️ is a set back.
tax laws are complex.
and of course finding a good power deal is very very very important.