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The American fast-food chain Steak ‘n Shake announced the formation of a new Bitcoin treasury, built with the Bitcoin made from the sale of its restaurants.
“All payments received in Bitcoin will be placed in our [strategic Bitcoin reserve]Steak ‘n Shake said in a post on X on Friday, which has garnered strong support from the Bitcoin community.
The company added that for every Bitcoin meal it sells, 210 sats (about $0.23) will be donated to the non-profit OpenSats, which supports contributors to Bitcoin Core and open source Bitcoin development.
How Much Bitcoin Could Steak ‘n Shake Collect?
Steak ‘n Shake has not disclosed how much of its restaurant sales are made in Bitcoin since then started accepting BTC payments in their US locations in May. Many other fast food chains that accept Bitcoin via third-party services do not disclose this information.
However, Steak ‘n Shake’s revenue data could provide some hints as to how much the company could do accumulate realistically in Bitcoin every quarter.
In the second quarter of 2025, Steak ‘n Shake reported revenue of $69.3 million – a 12% year-over-year increase. At the time, the company was praising Bitcoiners helping to ensure a 10.7% quarterly increase in same-store sales. This momentum continued in the third quarter, as same-store sales grew by 15%.
Both figures suggest that Bitcoiners comprise only a small (but growing) percentage of their customer base and sales, which means that Bitcoin accumulation will likely be slow compared to Bitcoin-focused treasury companies or Bitcoin miners.
There are, of course, others advantages to accept Bitcoin. In May, Steak ‘n Shake said it saves about 50% in processing fees compared to when customers use credit cards.
You pay Bitcoin when you buy a hamburger
Meanwhile, Steak ‘n Shake also announced a partnership with Fold giving customers $5 in BTC when they buy a Steak ‘n Shake “Bitcoin Meal” or “Bitcoin Steakburger,” using the receipt to redeem in the Fold app.
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“Bitcoin becomes mainstream when it starts appearing in everyday life,” said Will Reeves, president, founder and CEO of Fold.
“This has been our vision from the beginning, and our promotion with Steak ‘n Shake is the next step in that journey. For many people, this will be the first time they will own Bitcoin, and it comes from something as ordinary as grabbing a hamburger. This is what real adoption looks like.”
The limited-time offer will be available at approximately 400 locations in the United States.
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