Steak 'n Shake Reports 19% Increase in Franchise Sales with Bitcoin Payments

The American hamburger chain Steak 'n Shake announced that its same-store sales at franchise partner locations increased by 19% this quarter since the introduction of Bitcoin payments. Steak 'n Shake reported that same-store sales have experienced double-digit growth since it began accepting Bitcoin payments in May 2025. The company introduced Bitcoin payments through the Lightning Network starting in May of last year, which is a secondary payment network that reduces the speed and cost of small transactions. Bitcoin Magazine reported that at the time of the payment introduction, Steak 'n Shake expanded the service to all its locations in the U.S. The company emphasized the cost-saving benefits of Bitcoin payments, stating that it could reduce fees by about 50% compared to traditional credit card payments. Executive Michael Boss mentioned that if all card payments were converted to Bitcoin, it could save approximately $6 million annually. However, it is difficult to conclude that the sales increase was solely due to Bitcoin payments. According to data from Biglari Holdings, same-store sales at Steak 'n Shake's domestic locations increased by 11.9%. Therefore, it is challenging to directly compare the sales growth rates of franchise locations and company-operated stores. Steak 'n Shake announced that it incorporated $10 million in Bitcoin into its strategic reserves this January.