I think Crypto Currency, and the power generation required to “calculate” new coins is nonsense. Crypto currency energy consumption is circa 73TWh per year which is about the same as the fossil fuel consumption of Nigeria (the most populous country in Africa).
It is outrageous that the appropriate “real” cost is not associated to fictional money. (Perhaps a further discussion that all money is fictional and a trust system… but for another day). Whilst I have grown up in a capitalistic country, this misuse of resources seems to shout out that market forces and the concept of “rational markets” are wrong.
We need a global ban on the production of Crypto currencies and the trading of said currencies.
Basic 4 R’s of recycling is reduction, reuse, recycling and recovery. If we ban Crypto Currencies and their associated trading, we would reduce energy usage by circa 73TWh. The rare metals used to build Crypto Miners could be reused, recycled or recovered.
As a global community, we should be cognisant of industry energy usage and ensure that, energy used is for productive, progressive purposes. Clearly reaching global consensus on what is productive or progressive will be politically motivated. However, I think the question still needs to be asked.