<div class="text">
  <h1>Lorem Ipsum</h1>
  <div class="div-with-hole"></div>
</div>

h1 {
  font-size: 100px;
  font-family: sans-serif;
  text-transform: uppercase;
}

.div-with-hole {
  position:absolute;
  top:0;
  height: 100vh;
  -webkit-mask: radial-gradient(50px, #0000 98%, #000);
          mask: radial-gradient(50px, #0000 98%, #000);
  width: 100%;
  backdrop-filter: blur(10px);
}

body {
  min-height: 100vh;
  margin: 0;
  padding: 0;
}