Steak ‘n Shake saw an 11% Q2 same-store sales increase, the highest among major U.S. fast food chains.
Crypto payments were launched on May 16th, 2025, across the U.S., France, Monaco, and Spain.
The move has already saved the company 50% in transaction fees.
On its first day, the chain accounted for 0.2% of global Bitcoin transactions.
Steak ‘n Shake now offers crypto payment options to over 100 million potential customers.
On May 16th, 2025, Steak ‘n Shake began accepting crypto as a form of payment across all eligible locations in the U.S. and select international markets such as France, Monaco, and Spain.
Source: X (@SteaknShake)
Just weeks later, the brand started witnessing measurable business improvements.
With a 10.7% same-store sales increase, Steak ‘n Shake has outperformed many of America’s top fast-food competitors.
Data shared by Restaurant Business Magazine’s editor-in-chief, Jonathan Maze, revealed that other major chains like McDonald’s, Domino’s, and Taco Bell reported Q2 growth between -7.1% and 6.1%, placing Steak ‘n Shake at the top.
Dan Edwards, Chief Operating Officer at Steak ‘n Shake, highlighted the immediate cost benefits of crypto acceptance.
Dan said:
“We’ve cut our payment processing fees by 50% since enabling crypto payments.”
This substantial savings translates to more resources being available for innovation, customer service improvements, and menu expansion.
On its first day of accepting the new payment method, Steak ‘n Shake reportedly accounted for 0.2% of all global Bitcoin transactions, a significant figure that highlights both the power of the crypto community and the scalability of crypto in retail environments.
Source: X (@SteaknShake)
Edwards also emphasized how the move benefits all stakeholders:
Customers enjoy faster transactions and more payment flexibility.
Merchants benefit from reduced fees.
Bitcoiners get to use their holdings in real-world, tangible scenarios.
Steak ‘n Shake’s decision to integrate crypto payments wasn’t made lightly. The company estimates that this move makes cryptocurrency spending accessible to over 100 million customers across its locations where Bitcoin is legally accepted.
The decision comes on the heels of a long-term store reduction. Steak ‘n Shake’s U.S. presence has shrunk from a peak of 628 stores in 2018 to 397 as of May 2025, according to data from ScrapeHero.
Florida hosts the most Steak ‘n Shake locations, with 79 restaurants, representing approximately 20% of the company’s U.S. footprint.
Despite the downsizing, Steak ‘n Shake’s recent sales rebound demonstrates that the chain may be on the verge of a strong recovery, potentially driven in part by its crypto-forward strategy. More importantly, it could set a precedent for other food chains to follow in Steak ‘n Shake’s footsteps.
Steak ‘n Shake adopted Bitcoin to modernize its payment system, reduce transaction fees, and appeal to a growing demographic of cryptocurrency users.
The chain saw a 10.7% increase in same-store sales during Q2 2025, a significant uptick compared to other fast-food giants.
Bitcoin payments are accepted at locations where legally permitted, including in the U.S., France, Monaco, and Spain.
Customers enjoy faster, more secure transactions and the ability to spend their Bitcoin directly on everyday purchases.
Yes, Steak ‘n Shake has reported a 50% reduction in payment processing fees, making it a cost-effective solution.
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