Steak ‘n Shake has claimed that its engagement with Bitcoin has resulted in notable financial gains. Over the weekend, the American fast food chain disclosed that its Bitcoin reserve has zoomed past the crucial $10 million mark in notional value — solidifying a pro-BTC stance for the fast food brand. Notional value is the total amount of asset one controls in a financial contract — without having invested heavily in that asset upfront.
In May last year, the Indianapolis-headquartered company had started accepting crypto payments across its stores in the U.S. Later in November, the food chain announced its plan to create a corporate Bitcoin treasury.
“Our same-store sales have risen dramatically ever since (May). All Bitcoin sales go into our Strategic Bitcoin Reserve. Today we increased our Bitcoin exposure by $10,000,000 in notional value,” the official X handle of Stake ‘n Shake shared on January 17.
In the second and third quarters of 2025, Stake n’ Shake registered 11 percent and 15 percent spikes in store sales — reportedly overtaking contemporaries like McDonalds, Taco Bell, and Domino’s. The American diner has repeatedly credited BTC payments for an increase in at-store sales.
For now, the company has not disclosed exactly how much BTC does it hold in its corporate treasury. Additionally, information about if all of the stashed BTC has been roped-in from customer payments or if some portion of BTC was acquired by purchase also remains unmentioned.
Its post on X did mention that, “We have created a self-sustaining system — growing same-store sales that grow the strategic Bitcoin reserve. Improving food quality expands Steak n Shake’s reach and leverages Bitcoin into a new and delicious dimension.”
In November 2025, Steak n’ Shake had partnered with Bitcoin personal finance app called Fold to let is customers pay through the app and earn $5 worth of BTC for free.
The company has also also been donating 210 sats (the smallest unit of BTC) from every Bitcoin meal it sells to the Open Sats Initiative that provides funding to the BTC Core ecosystem.