Steak ‘n Shake Builds Bitcoin Treasury from Sales, May Boost Adoption via Meals

• Bitcoin treasury formation: All BTC sales revenue funneled into reserves for long-term holding.

• Processing fee savings: Company cuts costs by about 50% compared to credit card transactions.

• Donation initiative: 210 sats (roughly $0.23) from each Bitcoin meal supports Bitcoin Core contributors via OpenSats, with Q2 2025 revenue at $69.3 million showing growth.

Discover how Steak ‘n Shake’s Bitcoin treasury is revolutionizing fast food with crypto adoption. Learn about BTC donations, sales growth, and customer rewards—explore the future of Bitcoin in everyday dining today.

What is Steak ‘n Shake’s Bitcoin Treasury?

Steak ‘n Shake’s Bitcoin treasury represents a dedicated reserve where the company allocates all Bitcoin received from customer payments at its restaurants. This initiative, announced via a post on X, aims to build a strategic holding of BTC derived directly from sales, reflecting growing mainstream adoption. The move has received positive feedback from the Bitcoin community, underscoring its potential to integrate cryptocurrency into traditional business operations.

Source: Fold

The fast-food chain is also donating 210 sats from every Bitcoin meal toward open-source Bitcoin development.

How Does the Bitcoin Meal Donation Program Work?

Steak ‘n Shake’s Bitcoin meal donation program commits 210 satoshis—equivalent to approximately $0.23 at current values—from each qualifying meal sale to OpenSats, a nonprofit organization that funds contributors to Bitcoin Core and other open-source Bitcoin projects. This structured giving model not only incentivizes cryptocurrency use but also bolsters the ecosystem’s development. According to company statements, the program aligns with broader efforts to reduce reliance on traditional payment processors, saving around 50% in fees compared to credit cards.

Financial data from the second quarter of 2025 illustrates the program’s context: Steak ‘n Shake reported $69.3 million in revenue, marking a 12% year-over-year increase, partly attributed to Bitcoin-paying customers who drove a 10.7% rise in same-store sales. This trend persisted into the third quarter with 15% growth in same-store sales, indicating a niche but expanding Bitcoin user base. Experts in cryptocurrency adoption, such as those from financial analysis firms, note that such initiatives demonstrate practical integration of digital assets into retail, potentially accelerating broader acceptance without speculative risks.

Frequently Asked Questions

How Much Bitcoin Might Steak ‘n Shake Accumulate in Its Treasury?

Steak ‘n Shake has not publicly detailed the volume of Bitcoin sales since implementing BTC payments across U.S. locations in May 2025. Based on quarterly revenue of $69.3 million in Q2 and growing same-store sales, accumulation is expected to be gradual, representing a small fraction of total transactions as Bitcoin users form an emerging segment of customers.

What Rewards Do Customers Get for Bitcoin Meals at Steak ‘n Shake?

Through a partnership with Fold, customers purchasing a Bitcoin Meal or Bitcoin Steakburger can redeem $5 in Bitcoin using their receipt in the Fold app. This limited-time promotion, available at about 400 U.S. locations, makes Bitcoin ownership accessible via everyday purchases like burgers, promoting seamless entry into cryptocurrency for newcomers.

Key Takeaways

• Strategic Reserve Building: Direct allocation of BTC sales to treasury highlights a commitment to long-term cryptocurrency holdings in a non-tech sector.
• Cost Efficiency Gains: Acceptance of Bitcoin reduces processing fees by roughly 50%, enhancing profitability as sales from crypto users rise quarter-over-quarter.
• Community Support: Donations to OpenSats via meal sales foster open-source development, while promotions like Fold rewards encourage wider adoption.

Source: Steak ‘n Shake

American fast-food chain Steak ‘n Shake has announced the formation of a new Bitcoin treasury, built with the Bitcoin made from its restaurants’ sales. “All payments received in Bitcoin will be placed in our [strategic Bitcoin reserve],” said Steak ‘n Shake in a post on X on Friday, which garnered strong support from the Bitcoin community. The company added that for every Bitcoin meal it sells, 210 sats (around $0.23) will be donated to nonprofit OpenSats, which supports contributors to Bitcoin Core and open source Bitcoin development.

Steak ‘n Shake has not disclosed how much of its restaurants’ sales are made in Bitcoin since it began accepting BTC payments across its US locations in May. Many other fast food chains that accept Bitcoin via third-party services also do not disclose this information. However, Steak ‘n Shake’s revenue figures could provide some hints as to how much the company could realistically accumulate in Bitcoin each quarter.

In the second quarter of 2025, Steak ‘n Shake reported revenue of $69.3 million — a 12% increase year over year. At the time, the company praised Bitcoiners for helping it secure a 10.7% quarter-on-quarter rise in same-store sales. This momentum continued in the third quarter as same-store sales grew by 15%.

Both figures suggest that Bitcoiners comprise only a small (but growing) percentage of their customer base and sales, meaning Bitcoin accumulation will likely be slow compared to Bitcoin-focused treasury companies or Bitcoin miners.

There are, of course, other benefits to accepting Bitcoin. In May, Steak ‘n Shake said it saves roughly 50% in processing fees compared to when customers use credit cards.

Meanwhile, Steak ‘n Shake also announced a partnership with Fold that will give customers $5 in BTC when they buy a Steak ‘n Shake “Bitcoin Meal” or “Bitcoin Steakburger,” using the receipt to redeem it in the Fold app.

“Bitcoin goes mainstream when it starts showing up in everyday life,” said Will Reeves, chairman, founder and CEO of Fold. “That’s been our vision from the beginning, and our promotion with Steak ’n Shake is the next step in that journey. For many people, this will be the first time they ever own Bitcoin, and it will come from something as ordinary as grabbing a burger. That’s what real adoption looks like.”

The limited-time offer will be available across approximately 400 locations across the United States.

Conclusion

Steak ‘n Shake’s Bitcoin treasury and associated Bitcoin meal donation program mark a significant step in embedding cryptocurrency into conventional retail experiences, as evidenced by revenue growth and community endorsements. With fee savings, strategic reserves, and customer incentives driving momentum, this approach exemplifies balanced, fact-driven adoption. As Bitcoin integration expands, businesses like Steak ‘n Shake pave the way for accessible digital finance—consider exploring Bitcoin payments in your next meal for a taste of the future.