Steak “n Shake has revealed a significant boost in sales after implementing Bitcoin payments nine months ago. This initiative marked one of the most forward-thinking embraces of cryptocurrency in the fast-food sector.
In a recent announcement, the popular burger chain stated that its sales have increased, demonstrating that its choice to accept digital currency transactions has yielded positive results. The company began accepting Bitcoin in May 2025 and currently holds approximately $15 million in Bitcoin as part of its Strategic Bitcoin Reserve.
“Our same-store sales have risen dramatically ever since,” the company highlighted as it celebrated nine months of its Bitcoin payment program.
Steak “n Shake, which operates hundreds of outlets across the United States and in several European nations, noted that it saved nearly half of its usual transaction costs within just two weeks of adopting Bitcoin payments. This reduction is particularly impactful when compared to the traditional credit card processing fees that typically erode restaurant profits.
By the end of October 2025, the restaurant chain became the first major U.S. restaurant to establish a dedicated Bitcoin reserve. The company reported a remarkable 15% increase in sales at existing locations, attributing this growth to customers who prefer cryptocurrency.
Payments made in Bitcoin are processed via the Lightning Network, enabling rapid and cost-effective transactions. This strategy received support from Block co-founder Jack Dorsey when Steak “n Shake initially launched its cryptocurrency initiative.
All Bitcoin transactions from customers are directed straight into the company”s reserve fund, which is then utilized to pay employee bonuses in Bitcoin, creating what the company describes as a “decentralized, cash-producing operating business.” Steak “n Shake has consistently expanded its cryptocurrency holdings, initially investing $10 million, followed by additional purchases of another $10 million on January 16 and $5 million on January 27, bringing its total to roughly 168.6 Bitcoin.
In an innovative marketing move, the chain introduced promotions such as the “Bitcoin Burger,” which rewarded customers with small amounts of Bitcoin upon purchasing specific menu items. Additionally, for each “Bitcoin Meal” sold, the restaurant contributed 210 satoshis, a fraction of Bitcoin, to support open-source Bitcoin software development.
However, the company faced backlash in late January when it announced a Bitcoin bonus for hourly workers, valued at 21 cents per hour, set to begin on March 1. The bonus drew complaints due to the stipulation that employees could not access the funds for two years, and franchise workers were excluded from the offer altogether. Biglari Holdings, the restaurant”s parent company, has not clarified whether Bitcoin will play a role in its broader corporate financial strategy.
This indicates that the cryptocurrency initiative is primarily focused on the Steak “n Shake brand rather than being part of a comprehensive corporate financial approach. Sales data supports this strategy, with the chain reporting an 18% increase in growth at existing locations in 2026, alongside “double-digit” growth in the previous year, outperforming competitors.
Looking ahead, Steak “n Shake plans to expand its operations to El Salvador, where Bitcoin is recognized as legal tender. The company participated in Bitcoin events in San Salvador last November and announced its expansion plans shortly thereafter. Although it briefly solicited customer feedback on accepting Ethereum, another popular cryptocurrency, the chain quickly retracted the survey following negative reactions. “Our allegiance is with Bitcoiners,” the company affirmed.
The cost savings from reduced transaction fees alone could justify this cryptocurrency strategy, especially considering the thin profit margins typical in the restaurant industry, where every percentage point significantly impacts profitability.
