  We study the black hole entropy as entanglement entropy and propose a
resolution to the species puzzle. This resolution comes out naturally due to
the fact that in the presence of $N$ species the universal gravitational cutoff
is $\Lambda=M_{\rm Planck}/\sqrt{N}$, as opposed to $M_{\rm Planck}$. We
demonstrate consistency of our solution by showing the equality of the two
entropies in explicit examples in which the relation between $M_{\rm Planck}$
and $\Lambda$ is known from the fundamental theory.
