Steak ’n Shake, the longtime American burger chain known for steakburgers and milkshakes, is now using Bitcoin as part of its financial strategy. What started as a new payment option has grown into a plan that connects burger sales, company finances, and even employee pay to Bitcoin.

Over the past year, Steak ’n Shake has added to its bitcoin holdings several times. On January 17, the company stated that it had increased its bitcoin reserve by $10 million. And now, the company added another $5 million.

Steak ‘n Shake calls this approach its “Burger-to-Bitcoin transformation.” The idea is simple: everyday restaurant sales help grow the bitcoin reserve, which the company believes can support long-term growth and financial stability.

Steak ’n Shake began accepting Bitcoin payments in May 2025 at U.S. locations. It used the Lightning Network, which allows Bitcoin payments to move quickly and cheaply. This made it possible for customers to pay for burgers and fries with bitcoin just like they would with a credit card.

Most businesses that accept digital assets immediately convert them into cash. Steak ’n Shake chose not to do that. Instead, all bitcoin paid by customers goes directly into what the company calls its Strategic Bitcoin Reserve (SBR).

In its post on X, the company explained its thinking clearly. “All Bitcoin sales go into our Strategic Bitcoin Reserve,” Steak ’n Shake wrote. It added that better food leads to higher sales, and higher sales help grow the bitcoin reserve.

Lower payment costs also play a role. Company executives say Bitcoin payments cut transaction fees by about 50% compared with traditional card networks. That means the company keeps more money from each sale.

Bitcoin is no longer just an experiment or marketing tool. It is now part of how Steak ’n Shake manages its money. This could effectively turn the restaurant chain into a small corporate treasury, where customer payments help build long-term digital assets instead of just covering daily expenses.

Steak ’n Shake has also linked its Bitcoin strategy to stronger sales. The company says same-store sales rose more than 10% in 2025 after Bitcoin payments were introduced. More recently, Steak ’n Shake claimed 18% sales growth in 2026 for both company-owned and franchised locations.

However, analysts note that this figure has not yet been confirmed by independent financial filings. What is confirmed is that the parent company, Biglari Holdings, reported strong growth in 2025.

Same-store sales increased 10.7% in Q2 and 15.6% in Q3, numbers that industry publications described as among the best in the burger business.

Bitcoin is also showing up in employee pay. Starting March 1, 2026, hourly workers at company-owned Steak ’n Shake locations will earn a bitcoin bonus of $0.21 per hour worked.

The bonus will vest over two years and is paid through a partnership with fintech company Fold. A full-time employee could earn more than $400 per year in bitcoin, depending on hours worked. This makes Steak ’n Shake the first national burger chain to offer bitcoin bonuses to employees.

Company leaders say the move helps attract younger workers and fits with the brand’s long-term Bitcoin strategy. Steak ’n Shake has also leaned into Bitcoin with its marketing. The company launched Bitcoin-themed menu items, ran BTC reward promotions, and even introduced a limited “Bitcoin Meal.”