Steak 'n Shake reports 'dramatic' surge in same-store sales following Bitcoin integration
The popular American burger chain Steak 'n Shake reports that its nine-month Bitcoin acceptance program has generated remarkable same-store sales increases and built a $15 million Bitcoin treasury.
According to Steak 'n Shake, the restaurant chain has experienced a dramatic increase in same-store sales performance following the introduction of its burger-to-Bitcoin initiative in May 2025, which directs all Bitcoin customer payments into a company treasury reserve.
The American fast-food restaurant shared in an X post published Monday that it has effectively merged a "decentralized, cash-producing operating business with the transformative power of Bitcoin," expressing gratitude to the Bitcoin community for enabling this achievement. The company stopped short of releasing specific numerical data or providing a precise definition of what constitutes "risen dramatically."
The restaurant chain initiated Bitcoin payment acceptance at select participating outlets on May 16, 2025, implementing the program through a gradual rollout process.
Following the launch, Steak 'n Shake has consistently attributed increased sales performance to its Bitcoin (BTC) integration strategy, announcing same-store sales growth of 11% quarter-over-quarter for Q2 2025 and 15% for Q3 2025, surpassing performance metrics from major competitors such as McDonald's, Domino's and Taco Bell during the identical timeframe.
The initiative operates by channeling every Bitcoin payment received directly into the company's Strategic Bitcoin Reserve, which expands in proportion to customer transaction volume.
The restaurant chain revealed on Jan. 16 that its Bitcoin holdings had increased by $10 million in nominal value, though the announcement did not specify what portion resulted from cryptocurrency price increases compared to new accumulation through customer payments.
Just four days following that announcement, on Jan. 20, Steak 'n Shake introduced a new compensation initiative offering hourly staff members a Bitcoin incentive valued at $0.21 for every hour worked at company-operated restaurant locations, incorporating a two-year vesting schedule and partnering with Bitcoin rewards platform Fold.
The restaurant chain positioned this employee compensation strategy as a method to leverage heightened cryptocurrency interest among Generation Z and Millennial workforce demographics, who represent the bulk of employees working in the restaurant and food service sectors across the United States.
Following a one-week interval, on Jan. 27, the company disclosed an additional $5 million capital allocation directed toward the reserve, elevating its cumulative Bitcoin holdings to approximately $15 million.
Burger-to-Bitcoin a success, but BTC treasury stash in red
Data from BitcoinTreasuries indicates that Steak 'n Shake presently maintains holdings of 161.6 BTC, valued at approximately $10.96 million based on current market pricing, suggesting an average acquisition cost of slightly below $92,851 per Bitcoin unit.
Such figures would indicate the holdings are currently positioned roughly 26% beneath their average purchase valuation, signifying that the company's Strategic Bitcoin Reserve is experiencing a considerable unrealized loss on paper despite the fact that its Bitcoin integration strategy has successfully revitalized sales performance.
Cointelegraph contacted Steak 'n Shake for additional comment but had not received a reply at the time this article was published.