[salmon30salmon]

That is only really accurate if the electricity used would somehow disappear were it not for the mining. Electricity (minus the energy lost in transport etc etc) is zero-sum. If the miner uses hydro, that means someone further from the dam is using coal, methane etc as the hydro company isn't selling excess on the grid.

Energy is finite on the grid, so yes mining takes energy which could have been used for (arguably) better purposes

[mr_woozy]

Not here in Iceland we have more electricity than we have use for, it goes to bitcoin mining or it goes to aluminum smelting. No connection to the outside world grid.

[toomuchtodo]

Could go to H2 production and export.

[mr_woozy]

That's just bitcoin mining with extra steps.

[TomSwirly]

If you thought your comment made sense, I have to tell you that it does not.