The company began accepting Bitcoin as a method of payment in May 2025, following hundreds of store closures between 2018 and 2025.
Steak ‘n Shake, a fast-food restaurant chain that accepts Bitcoin (BTC) payments at its stores, announced on Friday that its BTC corporate treasury grew by $10 million in notional value.
The company did not disclose how much Bitcoin it holds, nor whether the increase reflects price appreciation, customer payments converted to BTC, or additional treasury purchases.
“All Bitcoin sales go into our strategic Bitcoin reserve,” the company said, adding that adopting BTC as a treasury asset has led to a flywheel effect that increases same-store sales, which, in turn, grows the company’s BTC stash.
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