I was under the impression they capture the evaporation, let it cool, and recycle it?
COP is coefficient of performance.
So, how do they get rid of the latent heat of evaporation that's released when the water recondenses?
The whole point of evaporative cooling is to soak up that latent heat and release it later, out in the environment, when the water recondenses somewhere else.
It's kind of like why Dune's stillsuits don't work.
In 2024, US data centers consumed power at an average rate of about 21 GW.
So, that would be about 70 billion gallons per year evaporated.