A study by the Cambridge Centre for Alternative Finance found that Bitcoin’s network is highly resilient to random submarine cable failures: more than 72–92% of cables would need to be disabled to disconnect over 10% of nodes. Targeted attacks on critical hubs, however, are far more dangerous, lowering the threshold to just 5–20%. Analysis of 68 incidents showed that in 87% of cases fewer than 5% of nodes went offline, with no significant impact on Bitcoin’s price. The network’s stability depends primarily on the architecture of global cable infrastructure, not on the geographic distribution of mining.