Wastes enormous amounts of energy... The energy is literally being stored in the value of bitcoin. It's an energy credit. People are transforming excess electricity into bitcoin. Period.

What do I do with my profits from mining bitcoin? Send my kids to college, buy groceries, remodel my bathroom, etc. It's an entire ecosystem, speculatively mining bitcoin by consuming electricity is just as evil as driving 1.5hrs to work because you're too lazy to find something near your house for example. People expend trillions of dollars in energy "mining" fiat.