Steak ‘n Shake has moved $10 million in Bitcoin to its balance sheet. This is another step in the fast food chain’s crypto push. According to reports, the purchase amount is equivalent to approximately 105 BTC at current prices, and the company says that all of its customers’ Bitcoin receipts will be put into a so-called strategic Bitcoin reserve.
Strategic Bitcoin Reserves That Lead to Sales
Based on reports, Steak ‘n Shake calls its new approach Strategic Bitcoin Reserve and says it will directly tie reserve increases to same-store sales growth.
The company is positioning the move as part of its daily operations rather than an independent financial bet. According to the chain, customers who pay with Bitcoin are effectively contributing to the reserve fund. This is a different route than companies raising capital or borrowing specifically to purchase cryptocurrencies.
Eight months ago today, Steak n Shake began accepting Bitcoin payments and began converting burgers to Bitcoin. Since then, our same-store sales have increased dramatically.
All Bitcoin sales go into our strategic Bitcoin reserve.
Today we increased our Bitcoin…
— SteaknShake (@SteaknShake) January 17, 2026
Lightning Network Payments
According to previous reports, Steak ‘n Shake will begin accepting Bitcoin at its U.S. stores in mid-May 2025, using the Lightning Network for payment processing.
According to the company, transaction fees have been reduced by about 50% compared to traditional card payments, and sales have increased since its introduction.
Same-store sales rose in low to mid-double digits, the report said, with numbers like 15% cited by some retailers.
The $10 million allocation follows eight months of active Bitcoin payments at the register. Management says the funds will be used to upgrade the restaurant and improve ingredients without raising menu prices.
Last year, the company also ran a brand promotion that tied small Bitcoin rewards to certain menu purchases as part of a broader effort to make crypto part of the customer experience.
Image: SeongJoon Cho/Bloomberg
About our use of funds
According to reports, Steak ‘n Shake wants the reserve to be an internally funded stable asset rather than a speculative holding that is subject to market timing.
A portion of Bitcoin will support business improvements, while other portions may be held as corporate assets. That mix could change if management changes its view of how Bitcoin fits into the company’s broader goals.
Industry insiders note that while the $10 million amount is modest compared to the crypto vaults of the biggest companies, it is one of the most public moves by a traditional consumer brand.
The trend of companies accepting Bitcoin and holding a portion of it has gained attention as it links everyday commerce with the accumulation of cryptocurrencies.
Featured image from Unsplash, chart from TradingView
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