Setting aside what's more intrinsically beneficial, one of the big problems with bitcoin mining is that there's no real cap to the amount of electricity it can

Setting aside what's more intrinsically beneficial, one of the big problems with bitcoin mining is that there's no real cap to the amount of electricity it can consume. With Netflix, their electricity consumption roughly scales with their customer base. Netflix isn't going to double their electricity consumption, unless they double the amount of customers they have. Netflix is incentivized to consume the amount of electricity they need to serve their customers, and no more. Bitcoin, however, has a completely different set of incentives. Since Bitcoin effectively converts electricity to money, Bitcoin miners will attempt to consume as much electricity as possible, to maximize their mining output. In addition, any efficiencies made doesn't really reduce the environmental impact, as any electricity saved can just be pumped into mining more Bitcoin.