[shagie]

How many times can you do that?

Consider your own computer... how often does it get hot under a regular load and the fans kick on? That "fans kick on" is transferring the heat to air and jettisoning it into the room... and you're dealing with 100 watts there. Scale that up to kilowatts that are always running.

There is a lot of energy that is being consumed for computation and being converted into heat.

The other part if that is... its a lot easier to do that transfer heat into some other material and jettison it on earth, without having to ship the rack into space and also deal with the additional mechanics of getting rid of hot things. You've got advantages of things like "cold things sink in gravity" and "you can push heat around and sink it into other things (like phase change of water)" and "you don't need to be sitting on top of a power plant in order to use the power."