Both AI And Crypto
largely avoid paying market price mainly because they bought up lots of the power generation so they aren't exposed to electric rate fluctuations. Their costs become fixed (and this removes power available to the grid, which can drive up prices).
If AI and crypto have their own dedicated energy production, they are only on the hook for paying the cost to produce the electricity. Whereas, if they were buying power off the grid most of us are tapping into, they'd have some incentive to become more efficient because their electric costs would go up like the rest of us.
Personally, I think AI and crypto are a product of too much money in the system chasing oversized returns. It's become speculation and hoping there's a bigger sucker down the line. Whether we get any return on investment is just about anyone's guess.