Steak ‘n Shake moved $10 million in Bitcoin to its corporate balance sheet, a new step in the fast food chain’s cryptocurrency push. According to the report, the purchase is equivalent to approximately 105 BTC at current prices, and the company says all customer Bitcoin receipts will go into its so-called strategic Bitcoin reserves.
Strategic Bitcoin Reserves Linked to Sales
According to the report, Steak ‘n Shake calls its new approach strategic Bitcoin holdings and says that growing holdings are directly tied to increased same-store sales.
The Company has framed these moves as part of its day-to-day operations and not as independent financial investments. Customers who pay with Bitcoin are in effect contributing to the reserves, the chain said. This is a different route from companies that raise or borrow capital specifically to purchase cryptocurrencies.
Eight months ago today, Steak n Shake began its burger-to-Bitcoin transition when it began accepting Bitcoin payments. Since then, our same-store sales have increased dramatically.
All Bitcoin sales go into our Strategic Bitcoin Reserve.
Today we increased Bitcoin…
— Steak & Shake (@SteaknShake) January 17, 2026
Payments on the Lightning Network
Steak ‘n Shake began accepting Bitcoin in U.S. locations in mid-May 2025, using the Lightning Network to process payments, according to previous reports.
The company reported that payment processing fees have been reduced by about 50% compared to traditional card payments and that sales have increased since launch.
Same-store sales growth was in the low to mid-double digits, according to the report. Several outlets have quoted figures like 15%.
The allocation of $10 million follows eight months of Bitcoin payments followed by cash payments. Management said the reserves will fund store upgrades and ingredient improvements without raising menu prices.
The company also ran a brand promotion last year that linked small Bitcoin rewards to certain menu purchases as part of a broader effort to make cryptocurrency part of the customer experience.
Image: SeongJoon Cho/Bloomberg
Company’s plan for using funds
According to the report, Steak ‘n Shake wants its reserves to be stable, internally funded assets rather than held speculatively based on market timing.
Some of the Bitcoin may support operational improvements, while other portions may remain as corporate assets. This mix could change if management changes its perspective on how Bitcoin fits into broader company goals.
Industry observers note that while $10 million is a small amount compared to the largest cryptocurrency treasury bonds, it is one of the more popular moves by established consumer brands.
The trend of companies accepting Bitcoin and holding a portion of it is gaining attention because it connects everyday commerce with cryptocurrency accumulation.
Featured image from Unsplash, chart from TradingView
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