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Mother Earth, Motherboard, the best 50 page story about the business and technology of undersea cables: http://archive.wired.com/wired/archive/4.12/ffglass.html

While sharks biting internet cables may be funnier, more often ship anchors and natural disasters cause cables to break.

On land there is a seemingly unlimited supply of idiots with backhoes, though.

Or just one Georgian grandma with a shovel.

Much lower repairs costs, and much easier to find the break,

shark proofing is expensive

I would imagine its because the continued and unexpected maintenance of things at the bottom of the ocean is much harder