It appears that mining costs and the creation of crypto currencies consumes a lot of resources

We have very little resources remaining in the world for each other and future generations. Does it make sense to waste resources like this? Could we do this in a cheaper and more economically friendly manner? And does the value of bitcoin directly correlate to the amount of resources and man hours that are destroyed in order to create it?
Our species, and those like us are not a conservative group. We are wasteful, we are destructive, we are hungry and want to take whatever we can, as much of it as possible, all at once. We have a greedy nature and we can't help but be over-indulgent and "ambitious". We may be using more than we should or "need" to, but does that define "waste"? We are investing into the future and innovation, investment is only possibly with excess and with excess comes waste. I'd argue that wasting resources for digital currencies is still a net-positive compared to the alternative of the same old system forever.
We are wasting resources everyday in various areas, programs and inventions because that's what it takes to invest in the future. It hurts to think about our waste when it is quantified in terms we can understand, in terms of how many people could have been supplied X for Y days, instead of this. The question must always be "Is it worth it?" It is a tough question, but if our excess were not spent as we choose then our situation would be unsustainable and without progress. This represents our freedom, basic freedom to do as you wish with what is yours. One man's waste is another man's future.