Earlier quoted context omitted.
This isn't really true, though? The ISS does it with radiators that are ~1/2 the area of its solar panels, and both should scale linearly with power?
I don't pretend to understand the thermodynamics of all of this to do an actual calculation, but note that the ISS spends half its time in the shadow of the earth, which these satellites would not do.
Low satellites are still cooler in the Earth's shadow than they would be in unshadowed orbits, but higher orbits are cooler than either. Not where you'd want to put millions of datacenters though.