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BTC Steak 'n Shake announces it has become a "Bitcoin company"
Steak 'n Shake, a burger chain founded in 1934, recently declared itself a "Bitcoin company." The statement comes more than 15 months after the chain began accepting Bitcoin payments. The company wrote in a post posted on August 30:"From the moment we started accepting Bitcoin payments, Steak 'n Shake has generated the best same-store sales in the fast food industry. Steak 'n Shake is a Bitcoin company." The company said Bitcoin supporters continue to support its business, and increased business volume and cost savings have helped it reinvest in food quality.
Sales data behind the statement
The statement is supported by a U.S. Securities and Exchange Commission (SEC) filing. According to a filing filed on August 7, Biglari Holdings Inc, which owns the chain, reported that same-store sales at restaurants operated by its domestic company and franchisee partners increased by 13.8% in the second quarter of 2026. This growth reflects the restaurant sector's strong consumer demand and solid execution, which has driven higher pre-tax operating profits. Pretax operating profit for the restaurant segment was $6.3 million for the quarter, compared with $3.7 million in the same period last year.
Strategies to transcend the checkout counter
Steak 'n Shake's Bitcoin strategy goes far beyond the checkout counter. The chain processes payments through the Bitcoin Lightning Network-a second-layer solution that settles small transfers faster and cheaper than the basic blockchain-and transfers customer payments into strategic Bitcoin reserves rather than into dollars. On October 31, 2025, the company became the first large restaurant chain in the United States to establish a dedicated Bitcoin reserve, and attributed a 15% increase in same-store sales to its customers who support cryptocurrencies. In January 2026, the company increased its exposure to Bitcoin twice, increasing the nominal value by US$10 million and US$5 million respectively.
In addition, the company promises to pay Bitcoin bonuses to all hourly employees whose company operates restaurants starting March 21, 2026, of US$0.21 per hour of work. The company added that employees will receive their bitcoin salary after a two-year vesting period.
