I'm glad I got out of Hashnest about 6 weeks ago with a tidy profit. I saw the collapse of cloudmining coming but it arrived even sooner than I thought it would... PBMining, Cointerra, CEX and soon, Hashnest.
Cloud mining service has its end written in the contract. But the drawdown of the bitcoin exchange rate make it faster than expected. And the speculative market and the greedy of the cloud mining service providers stop the price of contract goes down. As the cloud mining contract buyers cannot get the contract at a low enough price, usually the investors who hold the contract in long term cannot get profitable.
Buy a cloud mining contract at reasonable price (very important) from reliable provider will still be a choice of Bitcoin investment.