At SkySat we eventually realized our satellites were going to be in orbit beyond their projected service lifetime. We started brain-storming ideas for what you could do with a satellite that may fall out of the sky any day and probably has degraded batteries and solar panels.
My suggestion was to add a jurisdiction-neutral bitcoin wallet and bittorrent peer. Maybe Eric Schmidt is thinking the same thing?
Isn't heat going to be a huge issue if one attempts to run a data center in space?
Maybe, maybe not. Radiative cooling is a thing and if you had a big enough heat sink, it shouldn't be a problem. But you're absolutely right... you can't just ignore it.