Against my better judgment, I let someone on the internet tell me to do my own research by watching a 30 minute Youtube video. Parts of it, at least. I regret it.
Scott Manley literally waves his hands at thermals, claiming that because there exist 28kW SpaceX satellites in space (that operate only intermittently, because they need to cool down), it is feasible to efficiently run modern datacenters that are ~three orders of magnitude more power-hungry 24/7.
He does not do any math. He acknowledges that cooling systems are heavy, take up huge amounts of space, and that small, existing satellites need to schedule downtime to cool off. I'm no physicist, but I'm pretty sure radiant cooling systems scale with surface area, which is bad news for anyone trying to scale existing cooling systems up 1000x.
[0] https://www.youtube.com/watch?v=DCto6UkBJoI