“A Hong Kong Bitcoin mining company has hit upon an unusual design for its new datacentre, immersing its server blades in metre-high glass tanks of bubbling cooling liquid. The discovery was made by Bitcell’s Xiaogang Cao, who was invited into mining biz Asicminer’s Kwai Chung facility in the New Territories a few days ago to take a look round (via Hong Wrong). What he discovered apparently looked like something out of a bad sci-fi film, with rows and rows of blades sitting quietly in 3M cooling liquid, and switchers hanging above. Each rack contained three sealed glass tanks, with each tank having its own copper pipes connected to a small cooling system.”
http://www.theregister.co.uk/2013/11/28/bitcoin_asicminer_datacentre_tank_underwater