Steak ‘n Shake Rebrands Itself as a Bitcoin Company
Steak ‘n Shake, the burger chain founded in 1934, is positioning itself around bitcoin after beginning to accept cryptocurrency payments at its restaurants more than 15 months ago. The company made the declaration on Aug. 30 on X, following an Aug. 7 filing from parent company Biglari Holdings that detailed the chain’s sales growth.
“From the moment we started accepting bitcoin payments, Steak n Shake has produced the best same-store sales in the fast food industry,”
the company summarized.
“Bitcoiners continue to help our business. We have never seen an allegiance as strong as Bitcoin holders. The increased business and savings have helped us reinvest in food quality.”
The restaurant chain added:
“Steak n Shake is a Bitcoin company.”
Biglari Holdings Inc. (NYSE: BH), which owns Steak ‘n Shake, reported a 13.8% increase in same-store sales during the second quarter of 2026 at its domestic company-operated and franchise-partner-operated restaurants.
How Steak ‘n Shake Moved From Bitcoin Payments to a Strategic Reserve
Steak ‘n Shake began accepting bitcoin in May 2025 through the Bitcoin Lightning Network, a second-layer system designed to settle smaller transactions more quickly and at lower cost than the base blockchain.
The company says those lower transaction costs contribute to operating savings. Instead of converting customer payments into traditional currency, Steak ‘n Shake directs the bitcoin it receives into a Strategic Bitcoin Reserve, making cryptocurrency part of its financial strategy rather than simply a checkout option.
The chain increased its bitcoin exposure twice in January, first by $10 million and later by another $5 million in notional value. Steak ‘n Shake also partnered with Fold on a bitcoin bonus program for employees.
Bitcoin Bonuses for Employees and Promotions for Customers
Hourly employees at company-operated restaurants have received a bitcoin bonus in addition to their wages since March 1. The bonus is set at 21 cents for every hour worked and becomes payable after a two-year vesting period.
Customers received a bitcoin promotion of their own on Oct. 31, 2025, when Fold Holdings, Inc. (Nasdaq: FLD) and Steak ‘n Shake introduced a limited-time $5 bitcoin offer at approximately 400 U.S. locations. Customers who purchased a Bitcoin Steakburger or Bitcoin Meal could upload their receipt and receive a code redeemable through the Fold app.
Biglari Holdings reported pretax operating earnings of $6.3 million for the second quarter, up from $3.7 million a year earlier. The figure covers the company’s insurance and reinsurance, licensing and media, restaurant, and oil and gas operations.
For the first six months of 2026, pretax operating earnings totaled $2.1 million, down from $13.7 million during the same period in 2025.
Source: cryptonews.net
