Steak ‘n Shake Credits Bitcoin for 11% Sales Boost in Q2, Outperforming U.S. Fast Food Rivals

Bitcoin-Powered Sales Surge

Steak ‘n Shake has credited Bitcoin adoption as a major driver behind its 10.7% quarter-on-quarter same-store sales increase in Q2 2025—its best performance in years and a pace that outstripped some of America’s biggest fast-food brands.

In a post on X last Friday, the U.S. burger chain thanked Bitcoiners for their support since May 16, when it began accepting Bitcoin (BTC) across all locations where legally permitted, including the United States, France, Monaco, and Spain.

“Bitcoin has been a game changer,” the company wrote, adding that the move has already brought tangible benefits to both customers and the business.

Source: Steak ‘n Shake

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Outpacing the Competition

Industry data from Restaurant Business Magazine editor-in-chief Jonathan Maze shows Steak ‘n Shake’s Q2 growth beat major U.S. chains such as McDonald's, Domino’s, and Taco Bell, whose same-store sales ranged from -7.1% to 6.1%.

By making cryptocurrency payments available to an estimated 100 million customers, the brand positioned itself as one of the largest mainstream restaurant chains to embrace Bitcoin.

Immediate Impact on Costs

The decision appears to have paid off quickly. Speaking at Bitcoin 2025 in late May, COO Dan Edwards revealed that the company saw a 50% reduction in payment processing fees within just two weeks of launch.

“This means Bitcoin is a win for the customer, a win for us as the merchant, and a win for the Bitcoin community,” Edwards told conference attendees, noting that Steak ‘n Shake accounted for 0.2% of all Bitcoin transactions on its very first day of adoption.

Source: Luke Dashjr

A Turnaround After Store Closures

The positive results come after a challenging period for the chain. Data from ScrapeHero shows the number of Steak ‘n Shake U.S. locations dropped from 628 in 2018 to 397 as of May 28, 2025—a 37% decline.

Florida remains its largest market, home to 79 stores, or roughly 20% of the total U.S. footprint.

Bitcoin Payments in the U.S.: Still Rare, but Growing

While Bitcoin is often used as a speculative investment in the U.S., Steak ‘n Shake’s success highlights that merchant crypto payments can still deliver meaningful results. In many emerging markets, Bitcoin already sees greater day-to-day usage; this case may inspire more American brands to follow suit.

“Bitcoin continues to be ignored… but they won’t be able to ignore it forever,” the company wrote in its announcement.

Source: Steak ‘n Shake

Conclusion: A Win for Bitcoin and Burgers

By embracing Bitcoin, Steak ‘n Shake has cut costs, attracted new customers, and delivered its strongest quarterly growth in years. If the trend continues, the brand may have found a recipe not just for better burgers—but for a modern payment strategy that outpaces the competition.

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