Actually, around 4 years back, when I had a watercooling system for my pc, I experimented with using transformer coolent oil. (my bro in law worked for a firm that worked with it)
worked pretty well, but I didn't see much of a difference compared to water. (possibly due to my pump not being good enough, as it was of a slightly higher viscosity than water) but it was non electricly conductive, so if I sprang a leak, my system would be fine.
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