It's good news for the most efficient miners (who remain profitable today and stand to gain from any hashpower reduction). Core Scientific isn't particularly a well run company. RIOT is tops here with their energy contracts, increasing hashpower efficiency, and debt/btc ratio. Bankruptcies seem likely among the small inefficient miners, but I doubt we'll see any; instead I'd expect consolidation. Plenty of bitcoin on the balance sheets of some miners to go shopping.