Note that KSP is a game that fictionalizes a lot of things, and sizes of solar panels and radiators are one of those things.
To be clear I’m not advocating KSP as a reality simulator, or that data centers in space isn’t totally bonkers. However the reality is the hotter the radiator the smaller the surface area for pure radiance dissipation of heat.
Can you point to a terrestrial system similar to what you are proposing? Liquid cooling and phase change cooling in computers always has a radiator that is cooler than the component it is chilling.
You can do this in theory, but it takes so much power you are better off with some heat pumping to much bigger passive radiators that are cooler than your silicon (like everything else in space).
However the radiators you’re discussing are not pure radiance radiators. They transfer most heat to some other material like forced air. This is why they are cooler - they aren’t relying on the heat of the material to radiate rapidly enough.
I would note an obvious terrestrial example though is a home heat pump. The typical radiator is actually hotter than the home itself, and especially the heads and material being circulated. Another is any adiabatic refrigerator where the coils are much hotter than the refrigerated space. Peltier coolers even more so where you can freeze the nitrogen in the air with a peltier tower but the hot surface is intensely hot and unless you can move the heat from it rapidly the peltier effect collapses. (I went through a period of trying to freeze air at home for fun so there you go)
For radiation of heat the equation is P = \varepsilon \sigma A T^4
P = radiated power • A = surface area • T = absolute temperature (Kelvin) • \varepsilon = emissivity • \sigma = Stefan–Boltzmann constant
This means the temperature of the material increases radiation by the fourth power of its value. This is a dramatic amount of variance at it scales. If you can expend the power to double the heat it emits 16x the heat. You can use a much lower mass and surface area.
This is why space based nuclear reactors are invariably high temperature radiators. The idea radiators are effectively carbon radiators in that they have nearly perfect emissivity and extraordinarily high temperature tolerances and even get harder at very high temperatures. They’re just delicate and hard to manufacture. This is very different than conduction based radiators where metals are ideal.
Also, peltiers are less energy-efficient than compressors. That is why no home AC uses a peltier.
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."