The study I read was that data center growth was 160% from 2019 to 2024 but the average electric bill for consumers went down by 6%.
Can't speak to draining aquifers
I do know that in my prior life I sold data center 'space and power' as we called it as part of our overall portfolio (like 5%). I was responsible for scoping, selling, contracting and billing such projects. They had cool rack/hot rack/cool rack/hot rack alternating as to not make too much heat in one place. Reusing or repurposing that heat is a big deal. Some have grand plans. We put in 1% a year for energy increases into every contract because we knew this was coming. Hell, data centers thought they had a hard time keeping up before. Now? forgetaboutit.