3M and Gigabyte had a demo of an immersion cooled server this year at CES: http://www.anandtech.com/show/11046/gigabyte-server-shows-tw...
The 3M guy at the booth said they were partnering with Gigabyte because the latter can build servers with the requisite non-standard high-density form factors necessary to not have excess empty space being filled by the expensive cooling fluid.