Water cooling is an excellent way to harvest the heat. You guys are laughing at this meanwhile it's -30 here tonight and I could heat my house with maybe 10-12 s9s. Then just dump the excess heat outside with a PID controlled fan/rad.
The cost you say? Tell that to people around here who have spent $40,000 on geothermal.
But there's no real use in an industrial setting unless you have an actual need for the heat.