[throwaway19841]

Sure in theory. In reality not all energy is fungible because not all power generating systems in the world are connected. If I stand up a geo-thermal farm to run my crypto mining operation that power would not have been available to the grid anyway because the economic incentive to build the power station was crypto, not selling it to the grid.

[UncleMeat]

These cases exist, but they are not the dominant form of mining. If all mining was done in such circumstances (and the energy source couldn't be connected to a useful grid) then people wouldn't be as upset.