Steak ‘n Shake Credits Bitcoin for Record Sales Surge: Details

US fast-food chain Steak ‘n Shake has credited its embrace of Bitcoin payments for helping drive a 10.7% quarter-on-quarter same-store sales increase in Q2 — the highest among major US fast-food brands over the same period.

“Bitcoin has been a game changer,” the company wrote in an X post on Friday, thanking Bitcoiners for their support since May 16, when the chain began accepting the cryptocurrency at all locations where legally permitted. 

The adoption comes at a time when Bitcoin is still primarily used in the US as an investment

rather than a day-to-day currency, making the results stand out even more.

Sales Growth Outpaces Major Rivals

Data shared by Restaurant Business Magazine editor-in-chief Jonathan Maze shows Steak ‘n Shake outpacing industry leaders like McDonald’s, Domino’s, and Taco Bell, whose same-store sales growth ranged from -7.1% to 6.1% in the quarter. The chain’s 10.7% jump marks the strongest quarterly performance among top US fast-food brands.

The company’s Bitcoin rollout was not limited to the US. Customers in France, Monaco, and Spain can also pay with the cryptocurrency, potentially opening the option to more than 100 million customers globally.

Bitcoin Offering Immediate Benefits

Steak ‘n Shake’s Chief Operating Officer, Dan Edwards, said the impact was felt almost immediately. Speaking at the Bitcoin 2025 conference in late May, Edwards revealed that BTC payments cut the company’s transaction processing fees by 50% within two weeks of launch.

“This means that BTC is a win for the customer, it’s a win for us as the merchant, and it’s a win for you in the Bitcoin community,” he said. Edwards also noted that Steak ‘n Shake accounted for 0.2% of all BTC transactions on its opening day of acceptance.

The company’s move toward Bitcoin comes after years of contraction in its US store footprint. According to ScrapeHero data, the number of locations has dropped from 628 in 2018 to 397 as of May 28, 2025. Florida now has the highest concentration, with 79 stores — roughly 20% of the total.

While the broader restaurant industry has largely approached crypto payments with caution, Steak ‘n Shake’s early results suggest that digital currency could play a bigger role in driving sales and reducing operational costs in the fast-food sector. If the trend continues, it may push other chains to reconsider their stance on Bitcoin acceptance.

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