Steak ‘n Shake thanks Bitcoiners as same-store sales rise 11% in Q2
Main Idea
Steak 'n Shake attributes its 11% quarter-on-quarter sales growth to accepting Bitcoin as payment, outperforming other major US fast food chains.
Key Points
1. Steak 'n Shake reported a 10.7% quarter-on-quarter same-store sales increase in Q2, surpassing competitors like McDonald's, Domino's, and Taco Bell.
2. The fast food chain began accepting Bitcoin as payment on May 16 in locations where permitted by law, including the US, France, Monaco, and Spain.
3. Bitcoin payments are now available to over 100 million of Steak 'n Shake's customers.
4. The company's COO noted that Bitcoin saved 50% in processing costs for the Bitcoin 2025 conference.
5. Steak 'n Shake's store count has declined from a peak of 628 in 2018 to 397 as of May 28, 2025, with Florida having the most locations (79).
Description
Steak ‘n Shake attributed Bitcoin as a driver for its 11% quarter-on-quarter sales rise after adopting the cryptocurrency as a payment method in May.
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