Steak ‘n Shake’s Quarterly Performance Boosted by Bitcoin
The fast-food chain Steak ‘n Shake has recently acknowledged the role of Bitcoin enthusiasts in driving its impressive quarterly performance. In the second quarter of this year, the company reported a notable 10.7% increase in same-store sales compared to the previous quarter, outperforming many leading fast-food brands in the United States during this period.
Gratitude to the Bitcoin Community
On Friday, Steak ‘n Shake expressed its gratitude to the Bitcoin community via a post on X, highlighting the positive effects seen since the introduction of Bitcoin as a payment option on May 16. This move not only opened doors for transactions in the U.S. but also in international locations such as France, Monaco, and Spain, expanding the cryptocurrency payment accessibility to over 100 million customers.
Contrasting Performance in the Fast-Food Sector
This surge in sales underscores that while Bitcoin is primarily seen as an investment in the U.S., its utility in everyday transactions is still viable, particularly within the fast-food sector. Steak ‘n Shake’s performance illustrates a contrasting narrative to other top chains, such as McDonald’s and Domino’s, which reported varied same-store sales growth from a decline of 7.1% to a modest increase of 6.1% over the same timeframe.
Benefits of Bitcoin Integration
Dan Edwards, the chief operating officer, pointed out that the integration of Bitcoin has been beneficial for the company, reducing processing fees by 50%. He presented this information during the Bitcoin 2025 conference, labeling the adaptation as advantageous not only for Steak ‘n Shake but also for customers and the Bitcoin community at large. On the very first day of Bitcoin acceptance, the chain accounted for 0.2% of total Bitcoin transactions.
Challenges and Strategic Moves
This upbeat development comes as the company grapples with a significant reduction in its number of outlets. The chain has seen its store count decline from a high of 628 locations in 2018 to just 397 as of late May 2025, with Florida housing the largest concentration of 79 stores, representing roughly 20% of all U.S. outlets. Amid this retraction, the successful leveraging of Bitcoin appears to be a strategic move for revitalizing sales.
