Fast food chain Steak ‘n Shake has ramped up its cryptocurrency strategy, adding another $5 million in Bitcoin to its reserve as it reports a sharp increase in sales.
Key Takeaways
- Steak ‘n Shake increased its Bitcoin holdings to $15 million, channeling all Bitcoin payments into its Strategic Bitcoin Reserve.
- Same-store sales surged 18% in 2026, with company crediting Bitcoin adoption as a key driver.
- Hourly employees will receive Bitcoin bonuses, with $0.21 in BTC per worked hour, vesting over two years.
- Bitcoin payment integration via the Lightning Network reportedly slashed transaction fees by nearly 50%.
What Happened?
Steak ‘n Shake, a well-known American burger chain owned by Biglari Holdings, revealed it has added $5 million more in Bitcoin to its Strategic Bitcoin Reserve, bringing its total crypto holdings to an estimated $15 million. The company has committed to placing all Bitcoin payments received from customers directly into this fund.
In addition to growing its treasury, Steak ‘n Shake also announced a Bitcoin-based employee bonus program and celebrated a robust 18% increase in same-store sales for 2026, a rise it attributes in part to its Bitcoin-first strategy.
Steak n Shake’s Burger-to-Bitcoin transformation continues.
— Steak ‘n Shake (@SteaknShake) January 27, 2026
Today we increased our Bitcoin exposure by $5,000,000 in notional value.
All Bitcoin sales go into our Strategic Bitcoin Reserve.
Our self-sustaining system — improving food quality that grows same-store sales that…
Bitcoin-Powered Transformation
Steak ‘n Shake’s approach, dubbed a “Burger-to-Bitcoin transformation,” reflects an ambitious effort to modernize operations through digital finance. The company began accepting Bitcoin payments in May 2025 and has since expanded the system across its locations globally via the Lightning Network, a payment protocol that enables fast, low-cost transactions.
The integration led to a 50% reduction in transaction fees within the first two weeks, compared to traditional credit card processors. The financial savings, along with increased customer interest, have helped boost same-store sales in both 2025 and 2026, with double-digit growth reported each year.
According to Steak ‘n Shake’s post on X, this strategy forms part of a “self-sustaining system” where improved food quality leads to better sales, which then grow the Strategic Bitcoin Reserve.
Bitcoin Incentives for Employees
In a move that generated buzz in the Bitcoin community, the company also unveiled a bonus plan for hourly workers. Starting March 1, employees at company-operated restaurants will earn an extra $0.21 worth of Bitcoin per hour worked. This bonus, however, comes with a two-year vesting period and will be forfeited if an employee leaves before that period ends.
While some view this as a forward-thinking incentive, others have raised concerns about the delayed accessibility and price volatility of the crypto payments.
Steak ‘n Shake Joins the Bitcoin Treasury Club
With its now-public $15 million Bitcoin treasury, Steak ‘n Shake ranks among the top 100 Bitcoin-holding companies worldwide, based on data from BitcoinTreasuries.net. The company joins a growing list of firms shifting parts of their corporate reserves into digital assets.
While the exact amount of Bitcoin held remains unverified, the chain’s consistent updates and firm stance on transparency have earned it increasing credibility among Bitcoin proponents.
CoinLaw’s Takeaway
I found this story fascinating because it’s not every day you see a legacy fast food brand making bold moves like this. Steak ‘n Shake is doing more than just dabbling in Bitcoin. It’s building a system that connects quality, sales, and crypto strategy in a loop. From offering bonuses to employees in BTC to channeling every Bitcoin payment into reserves, they’re setting a real-world example of what corporate Bitcoin adoption can look like. In my experience, when a company commits this deeply, it often forces others in the space to reevaluate their own approach. Whether or not it becomes a model for the rest of the industry, it’s a powerful case study of innovation in a traditional business.
