It is wasted. I can send you a JPG without using more energy than a EU resident will go through in several years. This isn't a philosophical or moral question. We have ownership models and financial systems that are flawed but at least on paper accountable to democracies and not mining consortiums.

Meat consumption is wasteful, sure, but at least the end product feeds humans. I don't get why we have to burn more energy than entire countries to power a speculative asset. Or buy contraband online.