Steak ’n Shake has increased its Bitcoin exposure by an additional $5 million in notional value, continuing what the company calls its ongoing “burger-to-Bitcoin transformation.”
In a post on X, the restaurant chain said all Bitcoin-denominated sales continue to flow into its Strategic Bitcoin Reserve (SBR), which it describes as a self-sustaining system designed to boost restaurant performance while expanding its BTC holdings.
“Our self-sustaining system — improving food quality that grows same-store sales that then grow the SBR — is transforming the chain via financial technology,” the company wrote.
The latest increase follows a $10 million BTC exposure expansion announced earlier this month, marking the second treasury-related move by the company in January alone.
Steak ’n Shake began accepting BTC payments across U.S. locations in May 2025 using the Lightning Network, positioning the rollout as both a cost-cutting measure and a way to attract younger, crypto-native customers.
The company previously said it saves roughly 50% on processing fees when customers pay with BTC instead of traditional card networks.
According to the company, same-store sales rose more than 10% in the second quarter of 2025 following the BTC payments rollout, a performance it has partially attributed to engagement from the Bitcoin community.
Beyond payments and treasury strategy, Steak ’n Shake has expanded its BTC integration into employee compensation.
A company loyal to bitcoin
Earlier this month, the chain announced a “Bitcoin bonus” for hourly employees, paying $0.21 per hour worked in BTC using infrastructure provided by BTC services firm Fold. The bonus vests over two years, with a full-time employee earning roughly $436 annually in BTC at current rates.
The chain has also leaned into BTC-themed marketing, launching a BTC steakburger, offering BTC rewards tied to menu items, and publicly distancing itself from adding alternative cryptocurrencies after backlash from BTC supporters.
Last fall, the company ran a poll on X over the weekend asking its 468,800 followers whether it should expand its crypto options to include Ethereum.
Nearly 49,000 votes were cast, with 53% in favor.
However, just four hours later, the company suspended the poll, declaring its allegiance to Bitcoiners. “Poll suspended. Our allegiance is with Bitcoiners. You have spoken,” Steak ‘n Shake posted. It’s unclear whether the company was seriously considering Ethereum.