None of that applies to a 5 year mining contract, since they are under contract to continue to provide the hashing power for 5 years whether it is economical to do so or not. This is simply basic math, the total proceeds from hashing for the entire 5 year contract come to be less than what it costs to purchase.
I don't think that's correct. The current cost of a gh on PBMining is 0.0056.
https://tradeblock.com/mining/a/702307c1fbIt's profit by August forward. Assuming current BTC price remains constant. This is better than holding.
(Assuming not a ponzi for the purpose of this discussion only.)
I've already explained the apex where mining is worth more than holding, but you need a value around $4,000 for that to work out. Which isn't likely.