Re: Liquid-Filled Transformer and compliance with NEC
Maybe. See 450.23(A). But why would you want to? It would require, at the minimum, an oil containment area (e.g., concrete curbs around the base of the transformer). If you don't use a "less-flammable liquid" in the transformer, then you will need a "vault." You probably wouldn't want to construct a vault within the data canter.
A dry-type is more likely to suit your needs. They have a good record of reliability, so long as you treat them well. A data center will be full of harmonic currents. You need to take that into account, when selecting and sizing your transformer.