The prominent fast-food chain Steak ’n Shake has enhanced its corporate treasury by investing $10 million in bitcoin, reaffirming its commitment to cryptocurrency following the implementation of BTC payments across all U.S. locations eight months prior.
The company indicated on social media that this decision is part of a “self-reinforcing cycle” attributable to the growing adoption of bitcoin, whereby customer transactions in BTC contribute to incremental revenue, which is subsequently reinvested into operational enhancements.
As outlined by Steak ’n Shake, all revenue generated in bitcoin directly contributes to its strategic bitcoin reserve. This reserve is strategically allocated for funding restaurant upgrades, ingredient enhancements, and remodeling projects, all without necessitating an increase in menu prices.
“Eight months ago, Steak ’n Shake initiated its transition from burgers to bitcoin by accepting bitcoin payments,” the company noted on social media. “Since then, our same-store sales have seen a significant increase.”
The adoption of bitcoin payments commenced in May 2025, utilizing the Lightning Network, with the initiative designed to reduce card processing fees while appealing to a younger, crypto-savvy customer demographic. This strategy has proven effective.
Reportedly, same-store sales increased by over 10% in the second quarter of 2025, as stated by the company.
The recent acquisition of $10 million, equating to approximately 105 BTC at current market rates, represents the most substantial treasury commitment to bitcoin made by Steak ’n Shake to date.
Although this position is relatively modest compared to significant corporate stakeholders such as Strategy, which holds over 687,000 BTC valued at more than $65 billion, it highlights a broader trend of corporate bitcoin accumulation.
Data from Bitcointreasuries indicates that the total bitcoin held in corporate treasuries—encompassing public companies, private firms, governments, and exchange-traded funds—has surpassed 4 million BTC.
Last fall, the company conducted a poll on X, inviting its 468,800 followers to weigh in on the potential expansion of its cryptocurrency offerings to include Ethereum.
With nearly 49,000 votes cast, 53% were in favor. However, just four hours after initiating the poll, the company suspended it, affirming its dedication to the Bitcoin community. “Poll suspended. Our allegiance is with Bitcoiners. You have spoken,” Steak ’n Shake announced.
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