Steak ‘n Shake has moved $10 million of Bitcoin to its corporate balance sheet, the latest step in the fast food chain’s crypto push. According to reports, the purchase is worth 105 BTC at current prices, and the company says that all of the customers’ Bitcoin receipts go into a so-called Strategic Bitcoin Reserve.
Strategic Bitcoin Reserve Tied to Sales
Based on the reports, Steak ‘n Shake calls its new strategy Strategic Bitcoin Reserve and says it directly links reserve growth to increased same-store sales.
The company planned the move as part of daily operations rather than a standalone financial bet. Customers who pay with Bitcoin effectively contribute to the reservation, the chain said. This is a different route than companies raising money or borrowing to buy crypto.
Eight months ago today, Steak n Shake launched its burger-to-Bitcoin transition when we began accepting bitcoin payments. Our same-store sales have increased significantly since then.
All Bitcoin sales go into our Strategic Bitcoin Reserve.
Today we raised our Bitcoin…
– Steak ‘n Shake (@SteaknShake) January 17, 2026
Payments on the Lightning Network
Steak ‘n Shake began accepting Bitcoin at US locations in mid-May 2025, using the Lightning Network to handle payments, according to a previous report.
The company reports that payment processing costs have dropped by nearly 50% compared to traditional card payments, and sales have increased since its release.
Reports note same-store sales gains in the low to mid-double digits — figures like 15% have been cited by several stores.
The $10 million dividend follows eight months of active Bitcoin payments on the floor. Management says the reserve will fund store improvements and ingredient upgrades without raising menu prices.
The company also ran a branded promotion last year that linked small Bitcoin rewards to certain menu purchases, part of its broader effort to make crypto a part of the customer experience.
Image: SeongJoon Cho/Bloomberg
How the Company Plans to Use the Funds
Reports indicate that Steak ‘n Shake wants the reserve to be a solid, internally funded asset rather than a speculative investment driven by market timing.
Some of the Bitcoin will support operational development, while other parts can be kept as business assets. That mix could change if executives change their view of how Bitcoin fits into the company’s broader goals.
Industry observers point out that $10 million is modest compared to the company’s large crypto wealth, but it is one of the most public steps for a legacy consumer product.
The trend of businesses accepting Bitcoin and holding some of it has attracted attention because it links daily trading with cryptocurrency accumulation.
Featured image from Unsplash, chart from TradingView
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