This wouldn't be the first bubble popping do to a failure to consider the vertical infrastructure build. Heck, some analysts blame the sinking of the Titanic on substandard bolts (that is, building a ship too big and too fragile for the technology available.)
This would be a great opportunity to pump a lot of money into renewable energy and maybe even fusion R&D. (Yes, fusion often looks like a dead end, but that's been something of a self-fulfilling prophecy, since pessimism has been slowing funding even to the best and brightest leads.)
They could have also started investing in developing cooler memory and processing units, or better systems to cool them. Instead, the data center companies just bribed officials to let them use up water (and fuck the supplies for their neighbors) thinking that the people were just going to roll over and die.