# River Research (river.com) — independent Bitcoin/Lightning research (workflow wxlh2oinb, 2026-06-08).
# own_network=FALSE per Grant: River IS a Ten31 portfolio co, but the stake is IMMATERIAL → not a
# conflict → INDEPENDENT (same materiality rule as Swan). Real Lightning transaction/usage DATA — a
# strong independent leg for the Strike payments thesis (tests "Lightning grew" vs "retail payments at scale").
# kind=filing (text docs). cluster=bitcoin. NOTE: River's report PDFs are largely IMAGE-BASED (no text
# layer) → ingest the HTML landing pages + the text-layer PDFs only; image-PDFs deferred (need OCR).
sources:
  - {id: src-river, name: "River Research", kind: filing, cluster: bitcoin, role: IND, cluster_capped_low: true, own_network: false, channel_url: "https://river.com/research/", notes: "Independent (immaterial Ten31 stake). Bitcoin/Lightning usage research incl. annual Lightning Report (real tx data). Image-PDF reports deferred for OCR; HTML + text-PDFs ingested."}