Steak'n Shake Purchases $10 Million in Bitcoin, Advances Corporate BTC Treasury Strategy

On January 17, U.S. fast-food chain Steak 'n Shake announced it allocated $10 million to Bitcoin this week, formally adding BTC to its balance sheet. The move builds on its crypto-friendly push over the past eight months, during which all U.S. locations began accepting Bitcoin payments. The company framed the decision as part of a "self-reinforcing loop": Consumer adoption of Bitcoin payments boosts sales, and related revenue is reinvested into its Bitcoin reserves (SBR) to fund operational investments—like ingredient upgrades and store renovations—without raising menu prices. Since May 2025, Steak 'n Shake has accepted Bitcoin at all U.S. stores via the Lightning Network, targeting lower credit card transaction fees and younger, crypto-native customers. It reported Q2 2025 same-store sales rose more than 10% year-over-year, with Bitcoin payments cutting processing costs by roughly 50%. The latest purchase equals ~105 BTC (at current prices), marking Steak 'n Shake’s most direct Bitcoin treasury allocation to date. While far smaller than large public firms like MicroStrategy, the move shows enterprise-level Bitcoin accumulation continues to grow.