Unless you're talking about an adversary who has ~no launch capability then the person trying to put the data center out of reach is always going to be massively disadvantaged in terms of the physics.
Welding lasers are pretty cheap, the two hard parts are a big enough apperture to focus 500 km away, and adaptive optics, both of which have already been demonstrated decades ago in astronomy.
I'm not saying Iran and North Korea already have such capabilities, but I am saying I think neither would have trouble building it six months ago if they'd wanted to.
The active thermal control system (ATCS) on the ISS uses an ammonia loop and radiators measuring 13.6 x 3.12 meters, or about 42.5 square meters. It can dissipate 16 kW, which is enough for 16 H200s, or one-quarter of a rack on Earth. For 200 kW, you would need a system 12.5 times larger, about 531 square meters—2.6 times larger than the solar array. The satellite would be enormous, larger than the ISS, and all of that for only three racks.
https://codedtrip.com/en/blog/data-centers-in-space-disastro...
Starlink gen 3 satellite is designed to dissipate 250 kW. You are talking about an already solved issue, with real hardware already being built today.
Perhaps, but the parent comment posited that some people would pay the premium for orbital data center due to much better security. At $200 per kg to orbit, it could make sense.
It's not that hard, Starlink constellation already dissipates around 100 MW of heat, split over many satellites. Any orbital datacenter would use similarly distributed satellites.