Both of those are expensive as hell, by the way.
Cooling via radiation follows Stefan–Boltzmann: P = εσAT⁴. Let's assume a good surface (emissivity ~0.9) at 300 K (27 °C) at 400 W per square meter per side. A flat panel radiating from both faces into deep space gets 800 W/m, not including the losses from, say, the Sun, or from IR coming off the Earth. Now, input power. Sunlight in orbit ~1,360 W/m², assume ~22% cell efficiency, we got 300 W/m². So each 1 MW compute, 3,300 m² of solar panel and minimum 1,200–1,500 m² of radiator.
In case ya didn't know - 1 MW is tiny from a present-day-datacenter perspective. It's like 8 racks. So we're talking orbital megastructures here, many many many square kilometers, and this is with all the best case assumptions, and magic radiator panels that never see the sun, or the earth, or the moon.
This is just the basic numbers here, by the way. There's a garbage truck full of other unsolvable problems if you poke your head in there.
Aside from the "Avoid Regulations" aspect, and the "Everything That Burns Deorbiting is Depreciation" aka "The Starlink Trick", I'm not sure what the hell the draw is.