Starlink have already put a lot of effort into their satellites being much less bright than most satellites, including tilting their PV away from earth during the terminator crossing, so from what I've read you'll mainly see them while they're being deployed and while de-orbiting.
(Part of my still-expanding draft blog post about space data centres is to work out how bright a million much larger objects would look. If they were in the orbit with the most sun, that's a terminator-following sun-synchronous orbit, which is maximum brightness).
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The compute part may be a rack or a cabinet worth of GPUs (though TBH the public designs are currently vague to the point of being artistic impressions), but they also need to come with a PV array big enough to power that, plus a cooling array that's going to be close to 25% as big as the PV array regardless of what unit size they go for in the end.
If they settle on making e.g. 120 kW satellites, that would be about 400 m^2 for the PV and another 100 m^2 for the radiator.
I still cannot believe it's economical to have "data centers in orbit" but I guess the truth will be seen in whether or not it actually happens.
The FCC has regulatory jurisdiction for communications on US objects in space, regardless of distance from earth.
Even very optimistic estimates (by people who aren't Elon Musk) say it will take a decade to get the costs low enough to be worthwhile for LEO; higher orbits are much more expensive.
You can see that SpaceX (and probably other LEO operators as well) are already doing this: https://www.youtube.com/watch?v=rfJWli7YKPw
This video is a good visual illustration of that effect: https://www.youtube.com/watch?v=w8I25H3bnNw
Maybe we could just blast Anish Kapoor into space on a one-man prison vessel instead?