Bitcoin News Today: Steak ‘n Shake Posts 10.7% Sales Surge After Bitcoin Payment Integration

Steak ‘n Shake, a well-known U.S. fast-food chain, reported a 10.7% increase in same-store sales following the integration of Bitcoin as a payment method on May 16, 2025 [1]. This growth outpaced that of its major competitors, including McDonald’s, which reported a -7.1% sales decline, and Domino’s, which posted a 6.1% increase [1]. The company attributed part of this success to the adoption of Bitcoin, which has not only drawn attention from the cryptocurrency community but also led to cost efficiencies [1].

According to Dan Edwards, Steak ‘n Shake’s chief operating officer, the company’s processing fees were reduced by 50% after implementing Bitcoin transactions [1]. This cost saving, he noted, benefits both the company and customers, positioning Bitcoin as a “win for everyone involved.” The move aligns with Steak ‘n Shake’s broader strategy to rejuvenate its brand and attract a more tech-savvy demographic [1].

The chain expanded Bitcoin acceptance to over 100 million customers across the U.S. and international locations in France, Monaco, and Spain [1]. This global rollout highlights Steak ‘n Shake’s effort to stay relevant in a competitive market. However, the company has faced a significant decline in store numbers, dropping from 628 in 2018 to 397 as of May 28, 2025 [1]. Despite this, it remains a prominent fast-food presence in Florida, where it operates 79 locations—approximately 20% of its total U.S. stores [1].

Steak ‘n Shake’s adoption of Bitcoin appears to resonate with younger consumers and cryptocurrency enthusiasts. The company celebrated the move on social media, thanking Bitcoin users for contributing to its recent sales growth [1]. This strategy reflects a growing trend in the food industry where businesses are exploring innovative ways to engage with evolving consumer preferences [1].

The fast-food sector has historically been slow to adopt new technologies, but Steak ‘n Shake’s performance suggests that integrating digital assets like Bitcoin could offer tangible benefits. Analysts have noted that while Bitcoin is often seen as an investment in the U.S., in less developed markets, it is frequently used for everyday transactions. This shift in perception might encourage more U.S.-based merchants to consider cryptocurrency as a viable payment option [1].

Despite the positive results, Steak ‘n Shake’s sales growth is still within the context of a shrinking footprint. The chain’s decision to embrace Bitcoin may be seen as a strategic pivot to attract new customers and retain existing ones in a highly competitive landscape [1]. If other fast-food chains follow suit, the broader implications for the food industry and consumer payment habits could be significant.

Steak ‘n Shake’s experience demonstrates that, when implemented effectively, Bitcoin can offer both operational advantages and consumer engagement opportunities. As the company moves forward, it will be important to monitor how this strategy impacts long-term brand loyalty and profitability. For now, its 10.7% sales increase stands as a notable achievement in the ongoing conversation about the role of cryptocurrency in the retail and food sectors [1].

Source: [1] Steak ‘n Shake Reports 10.7% Sales Growth, Potentially Driven by Bitcoin Adoption as Payment Method, https://en.coinotag.com/steak-n-shake-reports-10-7-sales-growth-potentially-driven-by-bitcoin-adoption-as-payment-method/