The fast food chain recently announced that it would begin accepting Bitcoin for purchases
Steak ‘n Shake has credited its recent sales surge to its decision to embrace Bitcoin payments earlier this year. The US-based fast-food chain reported an 11% increase in same-store sales for the second quarter, outpacing several major competitors in the sector.
The company began accepting Bitcoin on May 16 across all locations where it is legally permitted, including stores in the United States, France, Monaco, and Spain. The move opened cryptocurrency payment options to an estimated 100 million customers. Within two weeks of adoption, executives said the change was already delivering financial benefits, with payment processing fees reduced by roughly 50%.
Dan Edwards, Steak’ n Shake’s chief operating officer, described the decision as beneficial for both customers and the company. Speaking at the Bitcoin 2025 conference in late May, he called the payment option a “win” for consumers, merchants, and the broader Bitcoin community. On launch day, Steak ‘n Shake transactions accounted for about 0.2% of all Bitcoin payments worldwide.
The first Steak n Shake was opened in 1934 on route 66.
We are combining the best of the past – classic steakburgers, milkshakes – and the future – superchargers, robotaxis, and bitcoin. pic.twitter.com/Ni32U9t9YJ
— Steak 'n Shake (@SteaknShake) July 27, 2025
The sales boost is notable given the broader fast-food industry’s mixed performance over the same period. Data shared by Restaurant Business Magazine’s editor-in-chief, Jonathan Maze, showed many leading chains reporting growth well below Steak’ n Shake’s numbers, with some seeing negative results.
The positive results also mark a bright spot for the brand following a years-long decline in its store count. According to ScrapeHero, Steak’ n Shake had 397 US locations as of late May 2025, down from a peak of 628 in 2018. Florida remains its largest market, accounting for about one-fifth of all locations.
While Bitcoin payments are still relatively rare in the United States—where the cryptocurrency is largely held as an investment—Steak ‘n Shake’s results suggest that strategic adoption can attract new customers and improve margins. The company’s leadership appears committed to expanding its crypto integration as part of its broader turnaround efforts.
