TLDR
- Steak ’n Shake increased its Bitcoin exposure by $5 million, continuing its commitment to cryptocurrency.
- The company’s Bitcoin-denominated sales flow into its Strategic Bitcoin Reserve to enhance both performance and Bitcoin holdings.
- Steak ’n Shake started accepting Bitcoin payments in May 2025, reducing transaction fees by about 50%.
- The restaurant chain reported a 10% rise in same-store sales following the Bitcoin payments rollout.
- Steak ’n Shake introduced a Bitcoin bonus for hourly employees, paying $0.21 per hour worked in BTC.
Steak ’n Shake has expanded its Bitcoin holdings by $5 million, continuing its strategic push toward incorporating cryptocurrency into its operations. This latest move increases the restaurant chain’s exposure to Bitcoin, following a $10 million expansion earlier this month. The company views these investments as a key part of its “burger-to-Bitcoin transformation.”
Steak ’n Shake’s Bitcoin Strategy
In a recent statement, Steak ’n Shake emphasized its commitment to integrating Bitcoin into both its financial structure and day-to-day operations. The company stated that all Bitcoin-denominated sales flow into its Strategic Bitcoin Reserve (SBR), which is designed to enhance both the chain’s restaurant performance and Bitcoin holdings. The SBR system, according to the company, helps improve food quality, increasing same-store sales, which in turn boosts Bitcoin reserves.
The chain highlighted the self-sustaining nature of the SBR, which the company believes will propel the chain’s success while continuing to expand its BTC assets. Steak ’n Shake further emphasized that this initiative is part of a broader strategy to blend financial technology with its operations. This approach aims to optimize both customer experience and financial performance as the chain works to integrate Bitcoin more deeply into its framework.
Bitcoin Payments Rollout and Impact
Steak ’n Shake started accepting Bitcoin payments in May 2025 across its U.S. locations, utilizing the Lightning Network. This adoption was framed as both a cost-saving measure and a way to engage with younger, tech-savvy consumers who are interested in cryptocurrency. According to the company, accepting Bitcoin for payments allows it to reduce transaction fees by approximately 50%, compared to traditional card payments.
The company reported a 10% increase in same-store sales in the second quarter of 2025, attributing much of the success to its Bitcoin payment system. Engagement from the Bitcoin community played a significant role in driving this positive performance. Steak ’n Shake sees this as a clear indication of the growing value of Bitcoin integration in its business model, with both financial and operational benefits evident in the results.
Beyond customer payments and treasury management, Steak ’n Shake has expanded its use of Bitcoin to employee compensation. Earlier this month, the chain announced the introduction of a “Bitcoin bonus” for hourly employees, paying $0.21 per hour worked in Bitcoin. This bonus is paid out using services provided by Bitcoin infrastructure company Fold.
The bonus, which vests over two years, could result in a full-time employee earning approximately $436 annually in Bitcoin. Steak ’n Shake aims to further strengthen its connection to Bitcoin by tying employee incentives to the cryptocurrency.
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