The particles (the visual effects) are actually not the thing affecting performance. Asteroid breaking simulation is CPU-intensive. The larger the rock, the more voronoi cells it has, geometrically, so the longer it takes to handle.
#Less Asteroid Particles
snow blaze
cloud lichen
Yes but it is reduce performance, I Say Reduce Particles and solve this problem, Better FPS.
gloomy remnant
To my knowledge the GPU usage is limited and said limit (I think Lauri said 3GB) is intended to be raised, which should make mining (and everything else) more enjoyable