nope.. as said core scientific web bankrupt for other reasons

they were charging cloud mining customers over 10c electric rate, but looking at american rates they could have been located in many many many area's and got better rates

https://www.eia.gov/electricity/monthly/epm_table_grapher.php?t=epmt_5_6_a

their main thing was they got hit by the contagion. having celsius as a main customer who stopped paying, and they didnt bother to acquire new customers using good worthy deals. instead hey wasted for the money to go dry where electric bills were due and then ask their remaining customers to cough up more money as "debt"(a loan)

they were not running a good efficient business* with a good business deal offering to customers.

also core scientific were adjusting prices every quarter which shows they were not playing the business savvi game of locking in great rates at long term contracts

they were literally mining at a loss with no coverage or care to try to go efficient, nor switch paths when their mining cost went above price.. (they didnt acquire coin from market when coin was cheaper to buy than mine)

*there admissions of their hashrate and power usage shows they were not efficient(it measures out as using 300k OLD asics of 105thash at 3.25kw)