Steak ‘n Shake credits its “burger-to-Bitcoin” strategy with dramatically increasing same-store sales since its May 2025 launch. The fast-food chain reports that all Bitcoin payments are routed to a corporate treasury, building a reserve now worth approximately $11 million. However, this Bitcoin stash is currently sitting on a significant unrealized loss due to market depreciation.
The US fast-food chain Steak ‘n Shake stated its same-store sales have “risen dramatically” since it began accepting Bitcoin in May 2025. In a post on X, the company said it successfully combined a “decentralized, cash-producing operating business with the transformative power of Bitcoin.”
The chain did not provide specific figures to define the dramatic rise. However, it previously reported consecutive quarterly same-store sales growth of 11% and 15%, outpacing major rivals.
All Bitcoin receipts are funneled into the company’s Strategic Bitcoin Reserve. This reserve increases directly alongside customer spending on Bitcoin.
On January 16, the company said its Bitcoin stash had grown by $10 million in notional value. It did not break down how much came from price appreciation versus new customer payments.
According to BitcoinTreasuries, Steak ‘n Shake currently holds 161.6 BTC worth about $10.96 million. This implies an average purchase price of just under $92,851 per coin.
The position is approximately 26% below its average cost basis. This means the corporate Bitcoin reserve is sitting on a sizable unrealized loss.
The company also announced a Bitcoin bonus plan for hourly employees on January 20. It framed this as a way to tap into stronger crypto enthusiasm among younger workers.
