An interesting idea - instead of water cooling, just sink the whole thing in conductive oil.|
"It is possible to cut power consumption in half," managing director Peter Hopton told New Scientist. "You don't need to drive inefficient fans, or the usual air conditioning."
Hopton first got the idea after seeing computer enthusiasts discuss the idea online. Oil does not affect the function of electronic components and offers a potentially useful cooling solution since it transports heats more efficiently than air.