American burger chain Steak ’n Shake makes $10M Bitcoin purchase

Steak ’n Shake has invested $10 million in Bitcoin as part of a strategy to convert daily restaurant cash flow into a corporate BTC treasury.

The purchase expands the chain’s “Bitcoin-to-Burger” initiative, which was launched in May 2025.

Management said the approach integrates Bitcoin accumulation directly into the company’s daily operations.

The 90-year-old restaurant brand said its Bitcoin-first model helped deliver double-digit same-store sales growth last year.

“In 2025, Steak n Shake achieved double-digit same-store sales growth, the best in the industry,”

The company said.

The firm said higher revenues driven by improved food quality are reinvested into its Bitcoin reserves.

Steak ’n Shake has positioned itself as a Bitcoin-only company despite internal polling support for additional crypto options.

Management rejected adding Ethereum as a payment method, reinforcing a maximalist Bitcoin stance.

The company said the strategy is designed to build loyalty among crypto-focused consumers.

Bitcoin adoption has also extended to payroll, allowing employees to receive a portion of their wages in BTC.

Steak ’n Shake operates hundreds of locations across the United States and internationally.

At the time of reporting, Bitcoin price was $92,491.08.