Steak ‘n Shake makes history as the first major restaurant to establish a strategic bitcoin reserve.
All payments received in Bitcoin will now be added to their Strategic Bitcoin Reserve (SBR), marking a fun and big step in bitcoin adoption for the fast food chain.
As part of the initiative, the company will donate 210 sats from every Bitcoin meal sold to the Open Sats Initiative, Inc. during the next 12 months.
Customers who purchase and register their Bitcoin Steakburger through the Fold app will also receive $5 in free Bitcoin, with instructions on their receipts.
The move comes on the heels of a strong quarter in which same-store sales rose 15% — faster than all competitors — and highlights the growing impact of cryptocurrency engagement on the restaurant’s bottom line.
Steak ‘n Shake collaborates with Fold
Earlier today, the company and Fold Holdings launched a limited-time promotion at more than 1,200 Steak ‘n Shake locations that lets customers earn $5 in bitcoin with their Bitcoin Meal or Bitcoin Steakburger.
Diners simply upload their receipt to bitcoinmealdeal.com, redeem a code through the Fold app and instantly receive their reward.
The promotion marks the first US restaurant menu item tied to bitcoin rewards, with the Bitcoin logo even stamped on the burger bun as a nod to mainstream adoption.
The promotion coincides with the 17th anniversary of the Bitcoin White Paper and builds on Steak ‘n Shake’s previous adoption of Lightning Network payments.
Fold, which has around 1,500 BTC, continues to expand its bitcoin reward ecosystem.
Bitcoin improves payment speed
At the Bitcoin 2025 conference, Steak ‘n Shake CEO Dan Edwards highlighted the company’s global adoption of Bitcoin payments via the Lightning Network.
He noted that Bitcoin transactions immediately exceeded expectations, with one in every 500 global Bitcoin transactions occurring at Steak ‘n Shake on launch day
Edwards said accepting Bitcoin reduced processing fees by 50%, benefiting both the company and customers.
He emphasized that the initiative was a genuine payments upgrade, not a marketing stunt, and reported that customer behavior had changed positively since its implementation.
Steak ‘n Shake reported that customer behavior has already changed. “We’ve seen a sustained increase since the addition of Bitcoin,” Edwards noted.
Edwards also teased the company’s future plans and called for more technical talent. “We’re not done. We’re investing in cyber chefs, autonomous drives, AI technology — and we need engineers to help us build it.”