I currently mine Etherium, but instead of purchasing all the equipment I am using genesis-mining. Sure I won't see profit for a while, but I don't have a place to host the miner.

Also, be aware that Etherium is speaking of changing the method of its mining protocol early 2018. This will affect how it is mined. See http://boxmining.com/ethereum-proof-of-stake/. With this method you shouldn't need a very powerful GPU.