Exactly. You've highlighted the ultimate hard constraint: Thermodynamics.

While financial debt (like Tesla's valuation) can be hidden by printing money, "Energy Debt" cannot be hidden. Physics doesn't accept IOUs.

The proposal to launch servers into space is just a desperate search for a bigger heat sink because the terrestrial system is in thermal runaway.

Shinise wisdom teaches that if you cannot sustain the energy cost, you don't seek a new planet—you fix the inefficiency of the process. We are trying to overclock a planet that has no more cooling capacity.