  We analyze the statistical mechanics of a gas of neutral and charged black
holes. The microcanonical ensemble is the only possible approach to this
system, and the equilibrium configuration is the one for which most of the
energy is carried by a single black hole. Schwarzschild black holes are found
to obey the statistical bootstrap condition. In all cases, the microcanonical
temperature is identical to the Hawking temperature of the most massive black
hole in the gas. U(1) charges in general break the bootstrap property. The
problems of black hole decay and of quantum coherence are also addressed.
