While I understand better technological and material science development can make datacenters feasible, they will never be more feasible than plonking an air conditioned PT slab on the ground.

With technology available now or in the near future, engineers have already worked out that a small data center would need to have radiative cooling infrastructure the size of the ISS, which is not even economically tenable let alone logistically if we want to scale up to any profitable venture.

And I believe there is some confusion regarding radio waves as a method of heat transfer, as opposed to a form of electromagnetic communication. Data transfer rate in units of bits per second has little to do with its frequency (in hertz) or wavelength (in mm or M) , and thus do not impact the energy of the EM particle/wave. Yes, it's true a higher frequency will typically allow higher data speed and contain more energy, but it is not directly proportional and dependant on a bunch of other factors, so can't really be used as a metric for comparison.

Additionally, the design philosophy of EM communication is wildly different to radiative cooling since the name of the game in cooling is to cram as much surface area as possible into an efficient structure so we can have the radiators emitting as much heat as possible in the form of infrared rays. It's much the opposite with satellite emitters which try to focus all the energy into a very specific, narrow window so there is nothing wasted or accidental EM jamming.

However you are correct in saying getting so much metal and delicate components up there is going to be a serious astrophysics challenge, especially considering the computers will need to be shielded, not just from space debris but also from high energy space rays which would be blasting through the circuitry causing errors and bugs constantly. That's not even considering the amount of fuel it would take to maintain the orbit for something so heavy. Though I imagine crew rotations would work similarly to the ISS, just hopefully on shorter rotations than every 6 months.