Steak ‘n Shake Doubles Down on Bitcoin: Launches BTC Treasury, Donates 210 Sats per Meal
Steak ‘n Shake has unveiled a dedicated Bitcoin treasury and a new philanthropic campaign that donates 210 satoshis for every “Bitcoin Meal” sold — signaling one of the boldest crypto pivots yet from a major U.S. restaurant brand.
The company said all Bitcoin payments received across its 400 U.S. locations will be stored in a long-term strategic reserve, rather than converted back into fiat — a clear show of faith in Bitcoin’s staying power. The move, announced Friday on X, drew enthusiastic support from Bitcoiners who hailed it as a major step in bringing BTC deeper into everyday life.
For every Bitcoin Meal purchased, Steak ‘n Shake will donate 210 sats to OpenSats, a nonprofit funding developers behind Bitcoin Core and open-source projects. This positions the 90-year-old brand among a small but growing number of U.S. retailers that are embracing Bitcoin not just as a payment method, but as a philanthropic and cultural movement.
Since rolling out Bitcoin payments in May 2025, Steak ‘n Shake has seen tangible growth. The company reported $69.3 million in revenue for Q2 — up 12% year-over-year — with Bitcoin users driving a 10.7% rise in same-store sales quarter-over-quarter. That momentum continued into Q3, with another 15% gain, suggesting that Bitcoin adoption is fueling both brand engagement and financial upside.
On the operational front, the chain says accepting Bitcoin has cut payment processing fees by roughly 50%, compared to traditional credit card networks — an attractive incentive for other high-volume retailers watching from the sidelines.
The initiative also comes with a partnership with Fold, the Bitcoin rewards platform. Customers who buy a Bitcoin Meal or “Bitcoin Steakburger” will earn $5 in BTC which customers can redeem through the Fold app.
Fold CEO Will Reeves stressed the importance of making Bitcoin payments applicable for customers in their everyday lives, saying
“For many people, this will be the first time they ever own Bitcoin — and it will come from something as ordinary as grabbing a burger.”
Standing Firm: Steak ‘n Shake Says No to Ether
Despite its Bitcoin success, the brand faced backlash in October after hinting it might accept Ether payments. The company initially released a social media poll to ask its customers if they should start receiving ETH.
But the suggestion was heavily berated by customers who accused the chain of turning its back on Bitcoin. Shortly after, the company abruptly ended the poll, reassuring its customers that the chain's alliance is with Bitcoin and it will never turn its back on the cryptocurrency.
This allegiance has proven itself to be crucial to the growth of the food chain, as it has credited its Bitcoin-friendly approach for a 15% annual jump in same-store sales, with growing support from crypto communities in the U.S., France, Monaco, and Spain.
By combining a Bitcoin treasury, customer rewards, and open-source donations, Steak ‘n Shake isn’t just accepting crypto — it’s building a business model around Bitcoin culture itself.
In an industry where margins are tight and brand loyalty is everything, the chain’s crypto-first pivot may offer a glimpse of the restaurant of the future — one where your burger comes with a side of sats.