It will most probably be profitable in the medium term and most certainly in the long term. If you mine your bitcoins and hold them, then chances are they will rise significantly in value over the years.
To me miners get too caught up in electricity costs and ROIs and dump their mined bitcoin immediately "to pay for electricity" which is what? Like $10 per month, if that?
Learn to math.
If you spend $10 to get bitcoins that are worth $5 today, then no amount of rising "significantly in value over the years" is going to help.
You could have just used that $10 to get bitcoins that are worth $10 today, and you'd have had twice as many bitcoins as you got from mining.
If that $5 worth of bitcoins is worth $1,000,000 some day, that means that you lost $1,000,000 from mining (since $10 worth of bitcoins would have been worth $2,000,000).
Mining is just a way to buy bitcoins with electricity. If you have cheap enough electricity and can acquire efficient enough ASICs for a cheap enough price, then it can be possible to "buy" the bitcoins cheaper through mining than through direct purchase with your local currency. However, if your electricity rates are too expensive or your spend too much on ASICs that aren't efficient enough, then you'll spend much more on mining to buy the bitcoins than you would have spent to acquire the same amount of bitcoin directly.
