It’s possible, but the fact that they’re also asking for donations makes me think that they’re not getting enough money from ads. Also, if this site gets popular and gains a reputation, most advertisers won’t touch piracy websites. So the only ads they’ll get are weird porn sites and male enhancement pills that don’t pay very much.
Also, I don’t want to have a theory on where the servers are, I want to KNOW where the servers are. If they’re not being transparent about that, then my honeypot sense is tingling.