Steak 'n Shake Posts Double-Digit Sales Growth Following Bitcoin Adoption

Burger franchise Steak 'n Shake has stated that embracing bitcoin payments spurred its expansion.

In a Tuesday post on X, the Indianapolis-headquartered company noted that after it began accepting the leading cryptocurrency, it saw double-digit same-store sales growth.

It added: “And this quarter has been extraordinary, with franchise-partners same-store sales gaining 19%.”

Ever since we started accepting Bitcoin in May 2025, we have achieved double-digit same-store sales growth!

And this quarter has been extraordinary, with franchise-partners same-store sales gaining 19%.

Come have a Bitcoin burger and Bitcoin shake to celebrate!

Thank…

— Steak 'n Shake (@SteaknShake) September 8, 2026

The restaurant chain began accepting bitcoin payments last year, using the Lightning Network.

The company also said it would hold bitcoin on its books, and in January revealed it had added $10 million in bitcoin to its strategic reserve.

In April, Steak 'n Shake Chief MAHA Officer Michael Boes told the Bitcoin 2026 Conference that bitcoin has become a core engine of the chain's business results.

Same-store sales climbed 11% quarter-over-quarter in Q2 2025 and accelerated to 15% in Q3 2025, outpacing major rivals such as McDonald's, Taco Bell, and Domino's.

Boes called it the industry's highest same-store sales growth, attributing the performance to bitcoin on Lightning being cheaper and faster than traditional electronic payment methods.

The system works like this: when customers pay with bitcoin instead of a credit card, Steak 'n Shake saves roughly 50% on processing fees. Traditional credit card processors charge merchants between 2.5% and 3.5% per transaction.

“Bitcoin is real money made with real energy,” Boes said at the time.

Last year, the chain also considered accepting other cryptocurrencies but dropped the plan after a poll on X showed that people thought only bitcoin was necessary.