So the story is effective ad-blocking killed their business?
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Over the past year, electricity prices have gone up 2.5 times, which, with a large number of servers, gives a significant increase in costs that we have no way to balance. There are still a bunch of smaller reasons [for closing down], but we could write a book on this, and probably no one would want to read it.
Sounds like visits are down and costs are way, way up.
They have apparently blocked access in Europe.
Reports show that it is blocked at least in the UK, Germany and Spain.
When there's a profit motive, someone will always cut corners.
This only works as a specialisation of "people". Where there's no profit motive, people will also cut corners.
Once enough people do that, the users install adblockers, which also hurts advertisers who were not filling your screen with shitty, laggy, possibly dangerous ads.