Space is a vacuum. i.e. The lack-of-a-thing that makes a thermos great at keeping your drink hot. A satellite is, if nothing else, a fantastic thermos. A data center in space would necessarily rely completely on cooling by radiation, unlike a terrestrial data center that can make use of convection and conduction. You can't just pipe heat out into the atmosphere or build a heat exchanger. You can't exchange heat with vacuum. You can only radiate heat into it.
Heat is going to limit the compute that can be done in a satellite data centre and radiative cooling solutions are going to massively increase weight. It makes far more sense to build data centers in the arctic.
Musk is up to something here. This could be another hyperloop (i.e. A distracting promise meant to sabotage competition). It could be a legal dodge. It could be a power grab. What it will not be is a useful source of computing power. Anyone who takes this venture seriously is probably going to be burned.
Sufficient hype funds more work for his rocket company.
The more work they have the faster they can develop the systems to get to Mars. His pet project.
I really think it's that simple.
We can tell because it’s not being treated as a serious goal. 100% of the focus is on the big vroom vroom part that’s really exciting to kids who get particularly excited by things that go vroom, and approximately 0% of the focus is on developing all the less glamorous but equally essential components of a successful Mars mission, like making sure the crew stays healthy.