I dig your approach but I can't see how renting the gear out would be more profitable than just mining the coins yourself and keeping the profit. I guess you could weight medium-short term gains against BitCoin's perceived volatility but that's a little dicey. It's like they're giving value away. Great post all the same! Perhaps this schema could be used to mine some of the easier to mine currencies!
Hare Krsna!
It's just like leasing cars. Leases are cheaper per month but you don't get to keep the car at the end of it. Same with renting bitcoin hashing power.