We made investments in all available Bitmain Hashnest contracts to help our readers choose the most profitable investment strategy. The spreadsheet will be updated regularly to show which Hashnest bitcoin cloud mining contract is most profitable. We will also share our favorite strategies to earn great monthly returns with low risk.Our PACMiC v1 contract was bought with Auto-Rebuy (append) turned on. The Antminer S2 market is thinly traded so we were only able to buy 105 GH/s. The spreadsheet will be updated with weekly profits and projected ROI.ResultsOn 18 April, 2015 with bitcoin price at $222 our best performing contract at Hashnest was S4, followed by S3 then S5. However the spread from S3 to S5 was only three weeks. We have Auto-Rebuy enabled for our PACMiC contract. In the one month the contract has been active hashrate has increased from 1.0 TH/s to 1.26 TH/s.Hashnest sent this notice on 14 April to all customers:Due to the falling bitcoin price this week, ANTS2 and UMISOO contracts currently have higher maintenance fees than they do revenues. From April 14th, 2015 (Beijing time, GMT+8), Hashnest will calculate once daily ANTS2 and UMISOO expected revenues on a PPS basis. This calculation will be performed between 12:00 and 13:00 Beijing time each day. If this calculation returns a negative result, the losses will not be deducted from your remaining balance. If negative income conditions persist for ten days in a row, ANTS2 and UMISOO contracts will be terminated.To avoid contract termination should bitcoin price continue to fall we recommend you purchase only S3, S4, S5 and PACMiC v1 contracts at this time. S5 and PACMiC are least likely to be cancelled if bitcoin price declines under $200.A low risk strategy to earn 15% per month investing at HashnestOur PACMiC v1 contract expired on 4 July returning 4.16% interest in 107 days at bitcoin price of $273. This would extrapolate to 14.2% per year. We invested $260 and got our principal back plus $17 in profit. Not bad you think?Well, consider that we also bought 200 GH/s of S5 hashing at the same time for $69 that has made us $34 in profit so far. I can sell that 200 GH/s today for $74 on the Hashnest market. I would not only get my principal back but also $38 in profit or 55% profit in the same amount of time. Would you rather have 4% profit or 55%?Buying PACMiC contracts was nowhere near as profitable as investing in S5 hashing power over the time frame of our experiment. You could easily earn 15% per month buying S5 GH/s hashing power, holding for a few months to earn mining income, then selling hashing power at a profit. This strategy works best when the bitcoin market is trending up: you want to be able to hold your GH/s until bitcoin price appreciates. You can then sell your GH/s for a tidy profit to add to your mining income already banked.Antminer S3, S4 and S5 were all taking about 30 weeks to ROI at the time we sold, assuming no difficulty increase and steady bitcoin price of $273. We suspect when difficulty is figured in ROI for all three will be roughly one year. Zeus Halley is proving to be not as good an investment as any of the Antminer contracts with ROI of 54 weeks.We ended our experiment on July 6 selling off all our outstanding Hashnest contracts. We were able to sell S3, S4 and S5 hashes for a profit. UMISOO and S2 were sold at a loss (see the spreadsheet.) Profit on S3 from sale of shares and mining income was 70%, S4 was 61%, S5 was 55% and UMISOO was 11%. S2 was sold at a loss of 23%.The S2 market is thinly traded and not recommended. UMISOO is volatile so if you invest in UMISOO shares check your investment often to make sure you can sell your shares for what you paid for them. At the time we sold S3 was the best investment for someone who does not want to check prices every couple of days.The original PACMiC v1 which was advertised as paying 22% APR sold out quickly and Hashnest recently introduced a new PACMiC v2 contract that only pays 14% APR. Note from our actual figures that our PACMiC v1 only returned 14% APR, not 22% so we suspect the rate of return for PACMiC v2 may be less than advertised.At this time we are not impressed with the returns for PACMiC contracts. We have shown you are better off purchasing hashing power instead, particularly in a bitcoin bull market where you can usually sell your hash for more than you paid for it.If you only have $50 or $100 to invest you can still earn impressive returns buying Antminer hashing, especially if bitcoin price continues to rise. Just buy the current most profitable contract on the Hashnest market, hold to earn bitcoin from mining, then sell your hash at a profit when you choose.Every weekend we will invest in all Hashnest contracts and publish the current most profitable contract to own in comments for this article. For the weekend ending July 19 UMISOO was the most profitable contract to purchase with S3 in second place.A good reference we can recommend is nextdifficulty.com. The charts can help you decide between purchasing hosted mining from Hashnest or setting up your own miner. At this time purchasing UMISOO hashing power is as profitable as hosting your own S5 miner at home.How to Time Your Buy Orders at HashnestSuppose you have decided that you want to buy UMISOO GH/s at Hashnest and hold for a few weeks to months. Do not just jump in and buy at market, you want to time your buy orders to get a favorable price. Go to the History tab for UMISOO and select 1d:Use the slider over the date line at the bottom of the chart to adjust the scale. Hover your cursor over the green and red bars to get a popup with daily open, high, low, close and volume. The trick to getting the best price when you buy a contract at Hashnest is to wait for a down day with a red bar, the longer the bar (higher volume) the better. Remember each day at Hashnest closes at 2400 GMT. Soon after the trading day closes and you know the close and low for the day you want to place a buy order for the current day. There is a bit of an art to selecting a buy price. One method that works well and I suggest you try out is to split the difference between the low and close for yesterday and use that value to place a buy order for today. Most of the time you will get your order filled at a good price.Once you are in the market you need to set a sell order. A 5-10% profit is often attainable so I would suggest you place a sell order at 1.05 to 1.1 times the price you paid for your GH/s. You also want to monitor the market daily to make sure your GH/s are not dropping in price. Even though mining profits will make up for a brief dip in price you may want to sell and exit the market if you see the value of your GH/s drop by 5%. Remember to let your winning trades ride and get rid of losing positions quickly. Over time using proper trading discipline you should find your winning trades earning you a profit that is significantly higher than a few small losses. All the time you are trading you also have the bonus of mining income when a position is open.Day Trading Hashnest Mining ContractsAnother strategy that you might want to employ is to day trade mining contracts at Hashnest. When day trading you are trying to better the returns you would get by buying and holding. In an up trending market you can often buy and sell hashing power for a day’s mining profits more than once a day. Just take a look at the daily charts for each class of hash and determine which contract is trending upward and you would like to day trade.A little background information: all classes of hashing power at Hashnest (UMISOO, S2-S5) pay out the same amount in bitcoin mined per GH/s per day. They vary in cost per GH/s and also on the amount of maintenance fees you are charged, with S5 having the lowest fees as a percentage of bitcoin mined.But S5 may not be the most profitable contract based on the daily earning yield, which you calculate by deducting the maintenance fee from the bitcoin mined divided by price paid. Maintenance fees are charged in dollars and represent a greater percentage of profits as the price goes down and a lower percentage as the price goes upTo determine the bitcoin mined per GH/s go to Alloscomp and enter 1.0 GH/s in the bitcoin mining calculator. Then note the bitcoin mined per GH/s per day for this mining difficulty level. Once you have the bitcoin mined amount from Alloscomp go to the stats window in Hashnest for the hash you are buying. Take note of the last price and maintenance fee per GH/s/day. The maintenance fee is given in dollars so divide by the current bitcoin price to get the maintenance fee in bitcoin per GH/s/day.Then calculate the yield/GH/s = bitcoin mined – maintenance fee. Once you have this number it is the net daily mining profit per GH/s. I recommend you place a buy order at last price minus one day’s mining profit and once filled place a sell order at your fill price plus one day’s mining profits. In an uptrend chances are good that you will get your sell order filled in a few hours. Congrats! You just made two day’s mining profit in less than a day and can often repeat the process again the same day. On a good day if you repeat the process twice you will receive four times the mining profits compared to buy and hold.Here is a tip you can use to increase your UMISOO trading profits. UMISOO payout is different from the other contracts at Hashnest. It is PPS (pay per share) paid once a day at exactly 0400 GMT. As long as you buy your UMISOO hash before 0400 GMT you will receive a full day’s mining payout at 0400. Just place a buy order at market a couple of minutes before 0400 GMT and monitor your transactions. As soon as you are paid mining profits place an order to sell your UMISOO hash for the price you bought.Update: Hashnest Antminer S7As of 19 September Hashnest is now selling the very efficient Antminer S7 and the price of S5 hash has crashed. You can buy S5 hashing power on the internal Hashnest market for only $0.20 per GH/s. That is less than half what competitors like Genesis Mining are trying to sell SHA-256 hash for.You can only pre-order the S7 to hash at present and your hashing power will be deployed by end of business day 10 October. Based on past performance if you bought an S7 to hash now it will show up in your Hashnest user panel exactly as promised.The Antminer S7 is the most power efficient bitcoin miner you can buy with daily maintenance fees half of the Antminer S5. With the very low maintenance fees $0.40 per GH/s is a fair price and exactly what you will pay Hashnest if you order an S7 to hash now. You will have to cough up $1923 to purchase 4860 GH/s and your S7 hash will start hashing on 11 October. Once trading starts I think you can expect the price to be higher than $0.40 per GH/s at first until traders decide the fair market price.Because S5 hash is under priced presently if you absolutely have to buy bitcoin mining right now S5 is your best option. If you have the funds you may want to seriously consider buying a full S7 to hash. Once the S7 market is open on Hashnest that is where the action will be. You can forget about all other cloud mining providers as no one will be able to match the low daily fees and bang for the buck of S7.We look forward to S7 hash trading on Hashnest and hope to provide some pointers on how to profit from trading S7.Update 11 OctoberHashnest began trading for S7 hash on Friday 9 October. The price demanded by sellers is too high at present to allow ROI in less than a year. Actually S5 hosted mining is now the best deal at Hashnest: price is in a short term uptrend and ROI is less than one year. Please see our new article Hashnest S7 vs S5: Which To Buy Now? for analysis and recommendations.