Steak ’n Shake adds Bitcoin to its balance sheet

Steak ’n Shake has confirmed a $10 million Bitcoin purchase (around 105 BTC) for its corporate reserve.

This is the company’s first publicly confirmed Bitcoin acquisition.

Back in May 2025, Steak ’n Shake rolled out crypto payments via the Lightning Network across all U.S. locations. According to the company, the results were immediate:

— payment fees dropped by up to 50% compared to card networks

— same-store sales increased by roughly 15% after crypto payments went live

All Bitcoin paid by customers is not sold. It goes directly into what the company calls its Strategic Bitcoin Reserve.

What makes this approach stand out is that Steak ’n Shake isn’t raising capital to buy BTC. Instead, it’s accumulating Bitcoin through everyday business operations burgers turning into sats, one transaction at a time.

Real-world adoption is starting to look very practical.