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Steak ’n Shake reports sales growth after Bitcoin adoption
Fast-food restaurant chain Steak ’n Shake has moved to directly funding its corporate treasury with Bitcoin, eight months after launching Lightning Network payments and beginning to sell products for BTC.
Steak ’n Shake announced the purchase of 105 BTC worth $10 million, marking its first publicly disclosed direct treasury allocation following the company’s rollout of Bitcoin payments via the Lightning Network across all U.S. locations in May last year.
“We’ve built a self-sustaining system—growth in same-store sales drives growth in our SBR (Strategic Bitcoin Reserve). Improving food quality expands Steak ’n Shake’s reach and takes Bitcoin to a new, delicious level,” the company wrote on its official X account.
Steak ’n Shake reported nearly 50% savings on transaction fees compared to credit cards and said same-store sales increased by approximately 15% after launching its Bitcoin initiative.
Benefits for customers and the company
On October 31, the company formally established its treasury strategy and entered into a promotional partnership with Fold Holdings, a Bitcoin rewards company.
Steak ’n Shake is owned by Biglari Holdings, a San Antonio–based holding company led by Sardar Biglari. The parent company has not disclosed whether Bitcoin will be incorporated into its broader corporate strategy.
As reported by The Block, the restaurant’s approach differs from balance-sheet-focused strategies used by firms such as Strategy, which raise capital through equity offerings to finance Bitcoin purchases. According to Bitcoin Treasuries data, more than 200 companies currently hold Bitcoin on their balance sheets, although Steak ’n Shake’s $10 million position remains modest compared with the largest corporate holders.
As we wrote, Steak 'n Shake launches Bitcoin steakburger after adopting BTC payments
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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