Steak ’n Shake’s Bitcoin Integration Sets New Standard for Retail Crypto Payments

Steak 'n Shake's Q2 same-store sales increased by 10.7%, the highest among major US fast-food chains. The chain's May 16 rollout of Bitcoin payments reduced processing fees by 50% within two weeks and accounted for 0.2% of all Bitcoin transactions worldwide on launch day. The experiment could serve as a model for traditional retailers to blend operational efficiency with cultural relevance in the payments market.

In the second quarter of 2025, US fast-food chain Steak 'n Shake reported a significant 10.7% same-store sales increase, outpacing major competitors like McDonald's and Domino's [2]. The company attributed this growth to its adoption of Bitcoin as a payment method, which was implemented on May 16 across its US locations and in France, Monaco, and Spain [1].

The decision to accept Bitcoin payments resulted in a 50% reduction in processing fees within two weeks, as noted by Steak 'n Shake's chief operating officer, Dan Edwards [1]. This cost-saving measure has positioned Bitcoin as a "win for everyone involved," including both the company and its customers [1].

On its launch day, Steak 'n Shake accounted for 0.2% of all global Bitcoin transactions, indicating strong initial interest from users [1]. The company has since thanked Bitcoin supporters publicly, acknowledging their engagement as a key driver of recent sales momentum [1].

While the Bitcoin initiative has delivered a sales boost, it comes against the backdrop of a significantly smaller store base. According to data from ScrapeHero, Steak 'n Shake's US store count has dropped from 628 in 2018 to 397 as of May 28, 2025 — a decline of over 230 locations [1]. Florida remains the company’s largest market, with 79 stores representing around 20% of its total US presence [1].

The company's outperformance in Q2 compared with other major chains has sparked interest in whether Bitcoin could emerge as a more mainstream payment option in the US fast-food sector. While Bitcoin is still used primarily as an investment in the US, Steak 'n Shake’s results suggest there may be untapped potential for it as a retail payment method [2].

The challenge for Steak 'n Shake will be to translate short-term buzz from Bitcoin adoption into sustained sales growth. If other fast-food operators follow suit, industry analysts say the impact on customer payment habits could be significant — potentially normalizing the use of digital assets in everyday transactions [2].

References:
[1] https://cointelegraph.com/news/steak-n-shake-attributes-11-percent-sales-rise-bitcoiners
[2] https://invezz.com/news/2025/08/12/how-bitcoin-helped-steak-n-shake-beat-mcdonalds-and-dominos-in-sales/