Synonym for "utilize" that means "to use without waste"

Two options are exploit and harness:

exploit NOAD
make full use of and derive benefit from (a resource):
500 companies sprang up to exploit this new technology

harness Macmillan
utilize:
harness the computer's potential

Both words, especially exploit, fit your bill:

The program exploited/harnessed the supercomputer's resources.


You could go with exhaust or deplete.