Steak ’n Shake adds $10M in Bitcoin, launches crypto menu

Steak ’n Shake added $10M in Bitcoin to its reserve, keeps all crypto payments, and reports sales and efficiency gains. The chain also launched Bitcoin-themed menu items and rewards.

Steak ’n Shake has bolstered its Strategic Bitcoin Reserve with a $10 million purchase, becoming the first major restaurant chain to hold Bitcoin as a reserve asset. This move follows the rollout of Bitcoin payments at its US locations eight months ago. All Bitcoin payments are retained as digital assets and added to the reserve, with none converted to US dollars. The company reports that Bitcoin payments have reduced processing costs by about 50% and sped up checkout times. Since introducing the payment option in May, Steak ’n Shake has seen same-store sales rise by 10.7% in Q2 and 15% in Q3, outperforming several competitors. Additionally, the chain has launched Bitcoin-themed menu items and promotions, such as the Bitcoin Burger and a Bitcoin Meal program, which offers customer rewards and charitable donations in Bitcoin. Steak ’n Shake describes this as a permanent shift in its treasury policy, making Bitcoin central to its financial strategy.