There's a lot cheaper ways to burn energy than bitcoin miners though... and arguably ones more beneficial to society. Water desalination for example. Bauxite smelting. Hydrogen production.
The "problem" is, that obviously society apparently has measures of benefit that are more important than material goods: money.
You're not going to teach businesses (that were given profit as their top priority .. by society!) to suddenly deviate from their given priorities and instead maximize material good xyz just because it's less controversial than money.
To really give the right incentives to businesses probably requires some form of carbon taxes, very hard to get right but not sure we have a choice as a lifeform...