Daily News 19

Tag: Steak ’n Shake

  • Steak ‘n Shake Reports Double-Digit Sales Growth After Bitcoin Adoption

    Steak ‘n Shake Reports Double-Digit Sales Growth After Bitcoin Adoption

    Indianapolis-based burger franchise Steak ‘n Shake reports that accepting Bitcoin payments has driven significant business growth, with the company citing double-digit same-store sales increases since adopting the cryptocurrency in May 2025.

    Bitcoin Adoption Correlates with Sales Acceleration

    In a post on X Tuesday, the company highlighted its performance since integrating Bitcoin Lightning Network payments.

    Ever since we started accepting Bitcoin in May 2025, we have achieved double-digit same-store sales growth! And this quarter has been extraordinary, with franchise-partners same-store sales gaining 19%. Come have a Bitcoin burger and Bitcoin shake to celebrate! Thank…

    The firm added: “And this quarter has been extraordinary, with franchise-partners same-store sales gaining 19%.”

    Payment Cost Savings Cited as Key Driver

    Steak ‘n Shake began accepting Bitcoin via the Lightning Network last year and announced in January that it had added $10 million in Bitcoin to its strategic reserve. At the Bitcoin 2026 Conference in April, Chief MAHA Officer Michael Boes detailed how the payment method has become a core driver of the chain’s business performance.

    According to Boes, same-store sales rose 11% quarter over quarter in Q2 2025 and accelerated to 15% in Q3 2025, outpacing major rivals including McDonald’s, Taco Bell, and Domino’s. He characterized this as the highest same-store sales growth of any restaurant in the industry, attributing the performance to Bitcoin Lightning transactions being cheaper and faster than traditional electronic payment methods.

    The cost difference is substantial: when customers pay with Bitcoin instead of a credit card, Steak ‘n Shake saves roughly 50% on processing fees. Traditional credit card processors charge merchants between 2.5% and 3.5% per transaction.

    Bitcoin is real money made with real energy,

    Boes said at the conference.

    Company Rejected Multi-Crypto Approach

    The franchise also considered accepting other cryptocurrencies but abandoned the idea after a poll on X indicated customers believed only Bitcoin was necessary.

  • Why a Famous Burger Chain Now Calls Itself a ‘Bitcoin Company’

    Why a Famous Burger Chain Now Calls Itself a ‘Bitcoin Company’

    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