Mind Shot II 4 (Source)

Bleed shots do an initial damage of the modifier indicated then, starting at 20 seconds after the initial hit, they will tick off a set percentage of the initial damage as bleed damage (6 ticks for Mindshot1 and 9 ticks for Mindshot2). The bleeds are smaller than the initial hit, but cumulatively along with the initial damage and assuming the bleed goes for the full duration, they can potentially do more overall damage than a single hit with Headshot3 in a long fight. So if the fight is expected to last a long while, despite the fact that bleeds are far less effective than they used to be, it can sometimes be wise to open with Mindshot1 and Mindshot2 (they currently still stack, apparently), then move to Headshots. Keep in mind, however, only one of each bleed shot will stick, so there is not much reason to shoot these more than once per target except to reapply the bleed if it goes away or to try to improve the bleed tick. But additional hits from the same Mindshot will not add additional bleed timers.