Popular fast-food chain Steak ‘n Shake announced it added $10 million worth of bitcoin to its corporate treasury this week, continuing its push into crypto after eight months of accepting $BTCpayments at all its U.S. locations.

The company said on social media that the move is part of a "self-reinforcing" cycle: customers pay in bitcoin, sales rise, and all crypto revenue flows into what it calls its SBR$0.03827. Those funds, in turn, help bankroll upgrades, from better ingredients to restaurant remodels, without raising menu prices.

“Eight months ago today, Steak n Shake launched its burger-to-Bitcoin transformation when we started accepting bitcoin payments,” the company wrote. “Our same-store sales have risen dramatically ever since.”

Steak ‘n Shake began accepting bitcoin in May last year over the Lightning Network. The roll-out was pitched as a way to cut card processing fees in half and tap into a younger, crypto-savvy customer base.

It has worked.

Same-store sales rose more than 10% in Q2 2025, according to the company, while COO Dan Edwards said the firm saves about 50% in processing fees when customers choose to pay in $BTC.

In October, the chain introduced a Bitcoin-themed burger. It also started donating a small portion of each Bitcoin Meal to open-source Bitcoin development.

This recent $10 million buy, roughly 105 $BTCat current prices, marks the chain’s most direct treasury investment to date.

While the amount pales in comparison to larger publicly-traded companies’ bitcoin treasuries, such as Strategy’s 687,410 $BTCworth more than $65 billion, it shows continued corporate accumulation. Bitcoin held in treasuries, from governments to exchange-traded funds and everything in between, is now above 4 million according to Bitcointreasuries data.

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