Steak 'n Shake Adopts Bitcoin Strategy, Reports 13.8% Sales Growth
Steak 'n Shake, a burger chain founded in 1934 and owned by Biglari Holdings Inc (NYSE: BXH), has declared itself a Bitcoin company following over 15 months of accepting cryptocurrency payments at its locations. The decision appears to have driven strong performance; the second quarter of 2026 saw same-store sales rise by 13.8%, according to an SEC filing from Biglari Holdings Inc. The chain processes transactions via the Bitcoin Lightning Network and maintains a Strategic Bitcoin Reserve, making it one of the first major U.S. restaurant chains to do so in October 2025. In early 2026, Steak 'n Shake increased its Bitcoin exposure by $15 million across two separate increments. Additionally, employees at company-operated locations will receive Bitcoin bonuses tied to hours worked after a vesting period. The sales growth and improved pre-tax operating earnings of the restaurant segment are attributed in part to support from crypto-friendly customers.
