If you can't already get 1gbps, don't bother. Digging up road is expensive etc.
What I build isn't really data centre oriented, it's one off custom things, I aim at things like integrating silently into furniture or Art piece builds, hence not being worth it if you basically just need a box.
Yea mining only needs 1x because it just loads a file into vram and then its all local to gpu workload. But, that is only limited to 1x due to the motherboard pcie layout and risers used. You could get a frame, and use 16x risers and get the bandwidth you need. Technically any rack case with 4 x gpu support could do this, with the correct risers.
Yes watercooling can leak, should only be during initial setup /after a big move, but in a rack it's advisable to put it at the bottom etc just in case. I wss more imagining in a case at a desk rather than in a rack.
So are you looking to have a box of your GPUs, hosted in a DC?
You already have a server located with them?
What is the server currently?
Do you work for this company and is it for personal or business use?
If you have nothing currently bought, aren't the new nvidia nvlink based servers that were recently announced exactly this, or are they way beyond spec required?
I'm still learning towards doing it in one case is simpler than having a separate one for GPUs, since you'd need a half depth 4u case for GPUs, then risers. But if you went full depth you could fit them in the same box.
The interconnects for a separate gpu box just aren't that fast AFAIK, without going into individual/specifically designed solutions at least, and if your server isn't designed for external GPUs, it's not going to have any "nice" way to connect up.
So it really depends on what you currently own, what box its in, and what GPUs you need.