That's basically the principle of binary cycle[1] generators. However for data center waste heat recovery, I'd think you'd want to use a more stable fluid for cooling, and then pump it to a separate closed-loop binary-cycle generator. No reason to make your datacenter cooling system also deal with high pressure fluids, and moving high pressure working fluid from 1000s of chips to a turbine of sufficient size, etc.
That's basically the principle of binary cycle[1] generators. However for data center waste heat recovery, I'd think you'd want to use a more stable fluid for cooling, and then pump it to a separate closed-loop binary-cycle generator. No reason to make your datacenter cooling system also deal with high pressure fluids, and moving high pressure working fluid from 1000s of chips to a turbine of sufficient size, etc.
[1]: https://en.wikipedia.org/wiki/Binary_cycle