Bitcoin Fuels Steak ‘n Shake’s Stellar 11% Q2 Sales Surge—Crypto Meets Milkshakes

Who said crypto was just for degens and tech bros? Steak ‘n Shake just served Wall Street a juicy proof-of-concept—with Bitcoin driving an 11% revenue pop last quarter.

The burger chain’s earnings report reads like a bullish case study: crypto adoption isn’t just theoretical anymore. While traditional finance still debates ‘digital gold,’ this Midwest favorite quietly monetized the hype.

Of course, the suits will call it a fluke—until next quarter’s numbers drop. Meanwhile, the real lesson? Maybe Satoshi always intended Bitcoin for buying cheese fries.

Bitcoin’s Rising Role in Fast Food Payments

On May 16, Steak ‘n Shake began accepting Bitcoin at all its locations where local laws allow, including stores across the United States, France, Monaco, and Spain. This move opened cryptocurrency payment options to over 100 million customers—a bold step that seems to be paying off.

The company took to social media platform X (formerly Twitter) to thank bitcoin users, affectionately called “Bitcoiners,” for their role in this positive sales performance. “Bitcoin has been a game changer,” the chain posted, acknowledging the community’s enthusiastic support.

Outperforming Industry Giants

Steak ‘n Shake’s 10.7% rise in same-store sales stands out sharply when compared to its competitors. Recent data shared by Jonathan Maze, editor-in-chief of Restaurant Business Magazine, reveals that other leading fast-food brands like McDonald’s, Domino’s, and Taco Bell saw same-store sales growth ranging between -7.1% and 6.1% in the same quarter.

This means Steak ‘n Shake not only reversed any downward trends but also outpaced many industry giants — a notable feat in a highly competitive market.

The Cost Savings Behind the Scenes

Beyond simply attracting customers who want to pay with cryptocurrency, Steak ‘n Shake has also seen practical benefits from accepting Bitcoin. Just two weeks after adopting crypto payments, the company’s Chief Operating Officer, Dan Edwards, revealed that Bitcoin helped reduce the chain’s payment processing fees by half.

“This means that Bitcoin is a win for the customer, it’s a win for us as the merchant, and it’s a win for you in the Bitcoin community,” Edwards stated during the Bitcoin 2025 conference in late May.

Bitcoin’s Place in the US Payment Landscape

While Bitcoin is primarily viewed in the United States as an investment rather than a currency for daily purchases, Steak ‘n Shake’s experience hints that merchant acceptance of Bitcoin payments still has life and potential in the country’s retail sector.

This contrasts with less developed markets, where Bitcoin is more often used for everyday transactions due to banking infrastructure limitations. The fast-food chain’s success suggests that cryptocurrency can still carve out a meaningful role in US consumer spending habits.

A Bright Spot Amid Store Closures

Steak ‘n Shake’s Bitcoin adoption comes at a time when the chain has faced challenges with store closures. Data from ScrapeHero shows that the number of US locations has declined sharply from a peak of 628 stores in 2018 to just 397 stores as of late May 2025.

Florida remains the largest market for the chain, with 79 outlets — accounting for roughly 20% of its total US presence.

Despite these headwinds, the decision to embrace Bitcoin payments could represent a fresh path to growth and customer engagement for the fast-food brand.

Bitcoin Transactions Gaining Momentum

On its very first day accepting Bitcoin payments, Steak ‘n Shake accounted for 0.2% of all Bitcoin transactions globally, demonstrating a notable level of consumer interest. This initial impact shows that a meaningful number of customers are ready to use crypto for real-world purchases when given the option.

What’s Next for Cryptocurrency in Fast Food?

Steak ‘n Shake’s experience serves as an interesting case study for the wider retail and fast-food sectors. As cryptocurrencies gain more mainstream recognition, other merchants may consider following suit, especially if it means attracting new customers, lowering costs, and staying competitive.

“Bitcoin continues to be ignored… but they won’t be able to ignore it forever,” the company hinted in its social media posts, emphasizing that cryptocurrency adoption might soon become a standard practice rather than a novelty.

Final Thoughts

Steak ‘n Shake’s bold embrace of Bitcoin payments appears to be paying off, with a strong sales boost and operational savings that outpace many industry rivals. While Bitcoin remains primarily an investment asset in the US, its practical use in everyday payments could be on the rise—starting with forward-thinking brands willing to innovate.

For customers, this means more options to pay with digital currency, while businesses might find new ways to connect with tech-savvy audiences and reduce payment fees. If this trend continues, cryptocurrency could soon MOVE from niche to mainstream in America’s bustling fast-food industry.