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Steak 'n Shake Adds $5 Million in Bitcoin Exposure, Deepening Bitcoin Commitment
Steak 'n Shake has increased its Bitcoin exposure by an additional $5 million in notional value, continuing what the company calls its ongoing "burger-to-Bitcoin transformation."
In a post on X, the restaurant chain said all Bitcoin-denominated sales continue to flow into its Strategic Bitcoin Reserve (SBR), which it describes as a self-sustaining system designed to boost restaurant performance while expanding its BTC holdings.
"Our self-sustaining system — improving food quality that grows same-store sales that then grow the SBR — is transforming the chain via financial technology," the company wrote.
The latest increase follows a $10 million BTC exposure expansion announced earlier this month, marking the second treasury-related move by the company in January alone.
Steak 'n Shake began accepting BTC payments across U.S. locations in May 2025 using the Lightning Network, positioning the rollout as both a cost-cutting measure and a way to attract younger, crypto-native customers.
The company previously said it saves roughly 50% on processing fees when customers pay with BTC instead of traditional card networks.
According to the company, same-store sales rose more than 10% in the second quarter of 2025 following the BTC payments rollout, a performance it has partially attributed to engagement from the Bitcoin community.
Beyond payments and treasury strategy, Steak 'n Shake has expanded its BTC integration into employee compensation.
A company loyal to bitcoin
Earlier this month, the chain announced a "Bitcoin bonus" for hourly employees, paying $0.21 per hour worked in BTC using infrastructure provided by BTC services firm Fold. The bonus vests over two years, with a full-time employee earning roughly $436 annually in BTC at current rates.
The chain has also leaned into BTC-themed marketing, launching a BTC steakburger, offering BTC rewards tied to menu items, and publicly distancing itself from adding alternative cryptocurrencies after backlash from BTC supporters.
Last fall, the company ran a poll on X over the weekend asking its 468,800 followers whether it should expand its crypto options to include Ethereum.