We really need to figure out ways to get big fat data pipes to places that are naturally cold. Like imagine if we could get big pipes to Antarctica and then build data centers there. Plenty of fresh water and cold enough that you could almost just cool it with outside air, and you can exhaust the water right back outside to freeze back up. You could also use the exhaust heat to warm up the living spaces nearby.

The only question would be, would it create so much heat in one spot that it would actually warm up the environment too much?

The main thing stopping this now is lack of high throughput low latency data to the continent.