Steak ‘n Shake Reports 10.7% Sales Growth, Potentially Driven by Bitcoin Adoption as Payment Method
Main Idea
Steak ‘n Shake reported a 10.7% increase in same-store sales after adopting Bitcoin as a payment method, outperforming competitors like McDonald’s and Domino’s.
Key Points
1. Steak ‘n Shake’s same-store sales grew by 10.7% following Bitcoin adoption, surpassing competitors such as McDonald’s (-7.1%) and Domino’s (6.1%).
2. The chain saved 50% in processing fees by accepting Bitcoin, as reported by COO Dan Edwards.
3. Steak ‘n Shake’s store count has declined from 628 in 2018 to 397 as of May 28, 2025, with Florida hosting 20% of its locations.
4. Bitcoin adoption is seen as a strategic move to revitalize the chain amid declining store numbers.
5. The company highlighted Bitcoin’s potential in the fast-food industry, noting its benefits for cost savings and customer engagement.
Description
Steak ‘n Shake reported a 10.7% increase in same-store sales, attributing this growth to its acceptance of Bitcoin as a payment method since May 16. Bitcoin adoption has led to
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