Wouldn’t this generate a ton of heat?
Another poster made some napkin calculations, even with a 99% effective process, meaning 1% energy lost to the environment, he calculated several kW of heat you need get out of your system.
Even if you have 99% efficiency, which in reality is mostly unachievable, that's still a huge loss of energy if the energy you're handling is high enough.
By what metric? Here's a company that sells dry and wet closed loop water cooling systems that are > 500kW.