That works for the ISS, maybe a DC would just be bigger in scale.

There is also the link problem: if the space DC is geostationary, it will be quite far making for a longer round-trip time (RTT) and latency. If it's closer, it needs a lot of radio stations on earth to keep the space DC connected. And each radio station is roughtly the investment of a real DC on Earth.

Maybe you plant your data center on the dark side of an iron-rich asteroid and sink waste heat into it.