[Cambridge Study: Bitcoin Network Has Limited Impact from Submarine Cable Failures, Higher Risk from Cloud Service Centralization] A research team from the University of Cambridge analyzed 11 years of Bitcoin network data and 68 submarine cable failure incidents, finding that submarine cable failures have minimal impact on the Bitcoin network, with an average node change impact of only -1.5% and almost zero correlation with price. In contrast, coordinated attacks targeting cloud service providers such as Hetzner, AWS, and Google Cloud are more likely to cause node disruptions with significant effects. The study highlights that the widespread adoption of Tor nodes has enhanced the resilience of the Bitcoin network, but the centralization of cloud services remains a potential risk.