U.S. fast-food chain Steak ‘n Shake has unveiled plans to build a Bitcoin treasury funded entirely by the cryptocurrency it earns from restaurant sales.
“All Bitcoin payments we receive will be added to our [strategic Bitcoin reserve],” the company announced in a Friday post on X, drawing enthusiastic support from the Bitcoin community.
The company also revealed that for every meal purchased with Bitcoin, it will donate 210 sats (roughly $0.23) to OpenSats — a nonprofit supporting Bitcoin Core contributors and open-source Bitcoin development.
How much Bitcoin could Steak ‘n Shake stack?
Steak ‘n Shake hasn’t disclosed how much of its sales come from Bitcoin payments since introducing BTC acceptance across its U.S. restaurants in May. Other fast-food chains that process Bitcoin through third-party services similarly keep such data under wraps.
Still, the company’s revenue figures offer a glimpse into how much Bitcoin it could realistically accumulate over time. In the second quarter of 2025, Steak ‘n Shake reported $69.3 million in revenue — up 12% year over year. At the time, the company credited Bitcoiners for driving a 10.7% quarter-on-quarter increase in same-store sales, momentum that carried into the third quarter with another 15% gain.
These numbers suggest that while Bitcoiners currently make up a relatively small — but growing — share of Steak ‘n Shake’s customers, the company’s Bitcoin holdings will likely build gradually rather than rivaling those of dedicated Bitcoin treasury firms or miners.
There are other incentives too. In May, Steak ‘n Shake said it saves about 50% in processing fees compared to traditional credit card payments.
Earn Bitcoin with your burger
The chain has also partnered with Fold to reward customers with $5 in Bitcoin when they purchase a “Bitcoin Meal” or “Bitcoin Steakburger.” Customers can redeem their reward using the receipt in the Fold app.
“Bitcoin goes mainstream when it starts showing up in everyday life,” said Will Reeves, Fold’s chairman, founder, and CEO.
“That’s been our vision from the start, and this collaboration with Steak ’n Shake marks the next step in making it a reality,” said Reeves. “For many customers, this could be their very first experience owning Bitcoin — earned from something as simple as buying a burger. That’s what true adoption looks like.”
The limited-time promotion will roll out across roughly 400 Steak ’n Shake locations throughout the United States.
