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Google Is Really, Really Thirsty
(gizmodo.com)
This is a most excellent place for technology news and articles.
No, it isn't. The key conceit is they are removing water from the river and evaporating it.
The water isn't 'lost' it is still part of the hydrosphere, but it is made non-local. That water goes into the air and will go on to be rain in some place far away from the community where it was sourced. This will absolutely contrubute to local droughts and water insecurity.