Steak 'n Shake, a burger chain founded in 1934, recently declared itself a Bitcoin company. The declaration came more than 15 months after the chain began accepting Bitcoin payments at its restaurants.
"From the moment we started accepting Bitcoin payments, Steak 'n Shake has produced the best same-store sales in the fast food industry," the company wrote in a post on X on Aug. 30. "Steak n Shake is a Bitcoin company."
The company said that Bitcoiners continue to support its business and the increased business and savings have helped us reinvest in food quality.
Related: Elon Musk has 9-word response to quantum computing race
The declaration is backed by the SEC filing.
Biglari Holdings Inc, which owns the chain, reported a 13.8% same-store sales increase for domestic company-operated and franchise-partner-operated restaurants in the second quarter of 2026, as per an Aug. 7 filing.
The growth reflects strong consumer demand and solid execution in the restaurant segment, contributing to higher pre-tax operating earnings.
Pretax operating earnings for the restaurant segment came in at $6.3 million for the quarter, against $3.7 million a year earlier.
91-year-old fast food chain launches limited-edition Bitcoin Steakburger
Iconic U.S. restaurant becomes first to launch Bitcoin reserve
Popular burger chain rolls out new major plan
Steak 'n Shake's Bitcoin strategy extends well past the checkout counter.
The chain processes payments over the Bitcoin Lightning Network, a second layer that settles small transfers faster and more cheaply than the base blockchain, and routes customer Bitcoin payments into a Strategic Bitcoin Reserve rather than converting them to dollars.
On Oct. 31, 2025, the company became the first major U.S. restaurant chain to establish a dedicated Bitcoin reserve, attributing a 15% increase in same-store sales to its crypto-friendly customers.
The company increased its Bitcoin exposure twice in January 2026, first by $10 million and then by $5 million in notional value.
The company promised to give all hourly employees at its company-operated restaurants a Bitcoin bonus of $0.21 for every hour worked beginning March 21, 2026. Employees will be able to collect their Bitcoin pay after a two-year vesting period, it added.
Related: Elon Musk's AI warning about the dollar is starting to come true
This story was originally published by TheStreet on Aug 31, 2026, where it first appeared in the MARKETS section. Add TheStreet as a Preferred Source by clicking here.