American hamburger chain Steak 'n Shake announces strategic Bitcoin purchase

Popular American hamburger chain “Steak 'n Shake” announced recently that it has made an additional purchase of Bitcoin in its corporate finance department. This move indicates that the company is positioning cryptocurrencies as a key pillar of its business strategy. The purchase amount is equivalent to 10 million dollars, which at current rates is approximately 105 BTC.

8 Months Since Implementing Bitcoin Payments, $10 Million Additional Purchase

Steak 'n Shake introduced Bitcoin payments at all domestic stores in spring 2025, and after just 8 months, it made its first large-scale direct purchase. According to the company, this investment is part of a strategy to incorporate a portion of cryptocurrency revenue into corporate finances and hold it as a long-term Bitcoin reserve (SBR: Strategic Bitcoin Reserve).

Such an investment decision in the American hamburger chain industry is unusual and is pioneering a new trend within the industry. The company’s COO, Dan Edwards, states that this purchase is an important step toward strengthening business sustainability.

Self-Reinforcing Cycle, Crypto Revenue Flows Back into Business Improvement

What Steak 'n Shake is focusing on is the “self-reinforcing” business cycle enabled by the introduction of Bitcoin payments. When customers pay with Bitcoin, sales increase, and all cryptocurrency revenue flows into the SBR. These funds are then used for investments such as procuring higher-quality ingredients, renovating store facilities, and expanding menus. Importantly, these improvements can be made without raising prices for consumers.

The results are already evident. By mid-2025, same-store sales increased by over 10%, and card processing fees were reduced by approximately 50%. The fee reduction effect is particularly noticeable in transactions where customers chose Bitcoin payments. Additionally, in fall 2025, the company introduced a limited-edition Bitcoin-themed burger to appeal to younger and crypto-savvy customers.

Growing Trend of Corporate Bitcoin Accumulation

Steak 'n Shake’s move is part of a broader trend of companies accumulating Bitcoin. According to data from Bitcointreasurer, the total amount of Bitcoin held by corporate finance departments has already exceeded 4 million BTC.

Compared to reserves held by major publicly traded companies like MicroStrategy, which hold significant Bitcoin holdings, Steak 'n Shake’s 105 BTC is modest in scale. However, the fact that more companies in the casual dining industry are making Bitcoin purchases suggests that an increasing number of firms are incorporating cryptocurrencies into their asset allocation strategies.

“The day 8 months ago, Steak 'n Shake began transforming from burgers to Bitcoin through the introduction of Bitcoin payments,” the company states, reflecting that this series of initiatives symbolizes the future vision of their business. Utilizing Lightning Network-based payment systems not only reduces processing fees but also opens new opportunities for attracting a broader customer base and long-term asset accumulation, bringing new possibilities to American hamburger chains.