Steak ‘n Shake has moved $10 million worth of Bitcoin to its company balance sheet, another step in the fast food chain’s crypto push. According to reports, the purchase is equivalent to approximately 105 BTC ($94,993.00) at current prices, and the company says that all customer Bitcoin receipts will be entered into a so-called Strategic Bitcoin Reserve.
Strategic Bitcoin reserve tied to sales
Based on reports, Steak ‘n Shake calls its new approach a strategic Bitcoin reserve and says it ties reserve growth directly to rising same-store sales.
The company has seen the move as part of its day-to-day business operations and not as a standalone financial bet. Customers who pay with Bitcoin effectively contribute to the reserve, the chain said. This is a different route than companies that raise capital or borrow specifically to buy crypto.
Eight months ago, Steak n Shake launched its burger-to-Bitcoin transformation when we started accepting Bitcoin payments. Our same-store sales have increased dramatically since then.
All Bitcoin sales go into our Strategic Bitcoin Reserve.
Today we increased our Bitcoin…
— Steak ‘n Shake (@SteaknShake) January 17, 2026
Payments on the Lightning Network
Steak ‘n Shake began accepting Bitcoin at US locations in mid-May 2025, using the Lightning Network to process payments, according to previous reporting.
The company reports that payment processing fees have fallen by approximately 50% compared to traditional card payments, and sales have increased since the rollout.
Reports indicate that same-store sales growth is in the low to mid double digits – figures such as 15% have been cited by several outlets.
The $10 million allocation follows eight months of active Bitcoin payments at the checkout. Management says the reserve will fund store upgrades and ingredient improvements without increasing menu prices.
The company also ran a brand promotion last year that tied small Bitcoin rewards to specific menu purchases, as part of its broader effort to make crypto part of the customer experience.
How the company plans to use funds
Reports indicate that Steak ‘n Shake wants the reserve to be a stable, internally funded asset, rather than a speculative holding company driven by market timing.
Some of the Bitcoin will support operational improvements, while other portions may be retained as a business asset. That mix could change if management changes its view of how Bitcoin fits with broader business objectives.
Industry watchers point out that $10 million is modest compared to the largest corporate crypto treasuries, but it’s one of the more public moves from a legacy consumer brand.
The trend of companies accepting Bitcoin and then holding a portion of it has attracted attention because it links daily trading to cryptocurrency accumulation.
Featured image from Unsplash, chart from TradingView
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