Looking for grinding game to spend whole New Year's Eve by playing it

My vote is for good old ARPGs.

Honestly, either D3 (Diablo III) or PoE (Path of Exile) can fill that void. Both are good games and can easily run on low-end systems.
In one of the comments here you said you already own D3 but never got to play it. And PoE is F2P.
So I'd highly recommend you give either one a chance (follow a build if you do give it a chance).

There's also Titan Quest with its Anniversary Edition currently on sale on Steam (80% off).
It's definitely one of the best ARPGs out there, it's an oldie and right at the top alongside D2 and Grim Dawn. Highly recommended.
Being an older game, it should run on any system from the last decade.

P.S.
PoE's new expansion and the Abyss League (leagues = seasons in PoE) just launched 3 weeks ago. That's like the perfect time to give the game a chance.
If you will need some currency to boost up your starter build, I don't have much in this league (yet) but I can spare you like 10c (Chaos Orb) so you could trade other players for some cheap starting gear. Hit me up on Steam if you want.

Happy holidays! :)

Edit:
I forgot to mention, PoE is on Steam. It can be played with or without Steam.
I know it's important to some people.

The raid mode in either Resident Evil: Revelations games. Although it is easier to pick up the one in RER1 (and IMO it has much better levels and drop randomiser, although more items are viable for long-term use in RER2).

Risk of Rain
Stardew Valley
Terraria

I didn't like factorio personally, I find no fun in doing the same repetitive stuff over and over again. There is no grind or skill involved, there is 10 hours of watching youtube videos how to even start doing something. I don't say it's a bad game, but I'm one of those guys who don't find anything interesting in it.

Some of my favourite positions were already mentioned - Cook, Serve Delicious is excellent because of continuous progress and feel like you're getting better and better with each day, and it's very cheap too. I spent 62 hours in it.

If by any chance you completed that already then a sequel - CSD2 is even harder, even more grindy and even more rewarding, but under no circumstance you should play it without finishing CSD1 firstly, for your own sanity. Some of my friends like CSD2 more than CSD1, personally I like first one more, but it's debatable as CSD2 lacks story, but makes up for it with superior and challenging gameplay. Over 100 hours clocked to finish everything, very cool game.

Stardew Valley has very low specs and is also a huge rewarding timesink, I'd recommend it as much as CSD, I enjoyed it a lot myself - 71 hours and nowhere close to calling it done.

Darkest Dungeon would also fit what you're looking for, and I also enjoyed it for quite a while. 55 hours for me and nowhere close to being done with it. It should run just fine on low specs.

From a bit easier ones Game Dev Tycoon can be fun and rewarding while you're improving your stats and your team. I'd consider if simulator games are nice for you, 46 hours and more or less done for me.

Apart from that, mandatory vote for all kind of JRPGs, especially Recettear, since I loved that one and while it's not necessarily grindy, it can be if you want to make it so. And if that doesn't sound good enough, I can also vote for Monster Monpiece and Trails in the Sky. And if you want pure grind by nature then Disgaea will occupy you till you start hating yourself :3. Yes, I didn't touch the last one, though I have plans to, eventually...

Personally I'd recommend to go in-order with my suggestions, I listed best ones (according to my own subjective taste) on the top.

I chose Gemcraft: Chasing Shadows

Thank you all for suggestions!

Warframe