Steak ‘n Shake Expands Bitcoin Holdings With $5M Purchase

Steak ‘n Shake invested $5 million into its Bitcoin reserves, and it will continue to direct all earnings from Bitcoin payments into the fund.

In a January 27 X post, Steak ‘n Shake stated, “Our self-sustaining system, improving food quality that grows same-store sales that then grow the SBR, is transforming the chain via financial technology.”

The fast food restaurant chain's total holdings have now reached $15 million with the most recent increase, or roughly 168.6 BTC as of this writing. It's unclear if these numbers account for client payments, price increases, or other unreported treasury action.

The corporation last provided an update on January 18, stating that it had increased the notional value of its Strategic Bitcoin Reserve by $10 million.

Steak ‘n Shake Expands Bitcoin Holdings

The corporation has embraced the introduction of Bitcoin payments since May of last year as part of a larger digital strategy, and it has even acknowledged that Bitcoin directly improved same-store sales growth in 2025.

By processing purchases over the Lightning Network rather than conventional credit card rails, the company claims to have reduced transaction fees by almost 50%.

It stated at the time, “We are trouncing our competitors thanks to growing support from our loyal customers and our Bitcoin champions.”

It recently revealed plans to further incorporate Bitcoin into its business by providing hourly workers at company-run shops with Bitcoin bonuses. To launch the project, it collaborated with Fold, a Bitcoin-focused rewards platform.

In October, Fold first collaborated with the business to provide customers $5 in Bitcoin incentives when they bought special menu items like the Bitcoin Steakburger.

The announcement caused controversy because it stipulates that employees must stay with the company for two years before they can collect their Bitcoin bonuses, even if it was praised in the cryptocurrency trading community.