U.S. fast-food chain Steak ‘n Shake has credited Bitcoin enthusiasts for a 10.7% quarter-on-quarter same-store sales boost in Q2 — surpassing the performance of America’s leading food chains in the same period.
“Bitcoin has been a game changer,” the company shared on X Friday, thanking the Bitcoin community for their support since May 16, when it began accepting the cryptocurrency as payment.
The strong growth indicates that merchant Bitcoin payments may still have traction in the U.S., where the cryptocurrency is largely seen as an investment—unlike in many developing countries, where it is more commonly used for everyday purchases.
“Bitcoin continues to be ignored… but they won’t be able to ignore it forever.”
Steak ‘n Shake’s 10.7% Sales Growth Surpasses Competitors
Steak ‘n Shake’s same-store sales growth ranks highest among major U.S. fast-food chains for the quarter.
An X post by Restaurant Business Magazine editor-in-chief Jonathan Maze on Friday shows competitors such as McDonald’s, Domino’s, and Taco Bell posting same-store sales changes between -7.1% and 6.1%.
The fast-food chain began accepting Bitcoin payments on May 16 at all locations where legally permitted — including in the U.S., France, Monaco, and Spain.
The company said the move opens cryptocurrency payment options to over 100 million of its customers.
Steak ‘n Shake Sees Instant Boost After Adopting Bitcoin
Roughly two weeks after launch, Steak ‘n Shake COO Dan Edwards reported that accepting Bitcoin had cut the company’s processing fees by 50%.
“This means Bitcoin is a win for the customer, a win for us as the merchant, and a win for the Bitcoin community,” Edwards said at the Bitcoin 2025 conference in late May, adding that the chain accounted for 0.2% of all Bitcoin transactions on its first day.
Bitcoin Adoption Followed Closure of Nearly 230 Stores
Steak ‘n Shake’s U.S. store count has dropped from a peak of 628 in 2018 to 397 as of May 28, 2025, according to ScrapeHero data.
Florida holds the largest share, with 79 locations — roughly 20% of the chain’s U.S. footprint.
