The utilization rate of water resources of mines in China is still relatively low. The evaluation of mine water recycling has practical guiding significance for the planning, positioning, development, and construction of groundwater in today’s society. This article constructs an evaluation system for mine water recycling based on the key performance index (KPI) via the Internet of Things and big data platforms. This system evaluates the recycling status of mine water. First, the micro-seismic monitoring system and the hydrological dynamic detection system are deployed in work. The installation and debugging methods are compared to meet the monitoring requirements. Second, the filtered clear water is used for equipment cooling and firefighting dust removal at the mining face through the constant pressure supply pump. The excess clear water is discharged to the surface. Finally, 16 indicators are screened from four dimensions to construct a key KPI mine water evaluation system for evaluation and optimization. The results demonstrate that the first mine water monitoring system runs well and is fully functional, achieving the expected goal. The utilization rate evaluation score has increased yearly, from 3.05 points in 2016 to 3.39 points in 2020. However, the per capita utilization rate score still needs improvement. It is essential to improve the rationality of development and utilization.