How is it any worse than crypto farms, or streaming services?
These two things are so different.
Streaming services are extremely efficient; they tend to be encode-once and decode-on-user's-device. Video was for a long time considered a tough thing to serve, so engineers put tons of effort into making it efficient.
Crypto currency is literally designed to be as wasteful as possible while still being feasible. "Proof-of-work" (how Bitcoin and many other currencies operate) literally means that crypto mining algorithms must waste as much computation as they can get away with doing pointless operations just to say they tried. It's an abomination.