Fast-food giant Steak ’n Shake said Bitcoin has become a key pillar of its sales growth, cost savings and operating strategy, arguing that the cryptocurrency is helping the chain cut payment-processing fees by 50 percent while supporting improvements across the business.
Speaking at the Bitcoin 2026 conference in Las Vegas, Steak ’n Shake Chief Officer Michael Boes said the restaurant’s Bitcoin platform has helped it achieve what it described as the highest same-store sales growth in the restaurant industry, while adding 2 million more customers from the prior year.
Boes framed the shift as a strategic business decision, saying Bitcoin payments cut processing costs by about half compared with traditional credit-card payments.
“When we use Bitcoin, we save 50 percent on processing fees,” Boes said, adding that if every credit-card customer switched to Bitcoin, the company would save roughly $6 million annually.
Better payments feed into better operations
Boes said the improved quality of the company’s payment system has been reflected in the quality of its broader operations, including the food it serves, with lower transaction costs giving the restaurant more room to reinvest savings back into the business.
“Without the additional customers and savings, we would not be able to improve the food that we serve,” Boes said, linking the chain’s financial gains from Bitcoin directly to its ability to make operating upgrades without abandoning its value-focused pricing model.
Steak ’n Shake also presented the strategy as a shift toward a more efficient financial structure, saying Bitcoin allows the company to reduce friction from traditional payment networks while using the savings to strengthen parts of the business that customers can see at the restaurant level.
Bitcoin reserve extends to workers and franchisees
The restaurant said all Bitcoin sales are being directed into its Bitcoin reserve, which will help fund employee bonuses across its stores. Workers will be eligible for an additional 21-cent bonus on top of every hour worked, a figure tied to Bitcoin’s fixed supply of 21 million coins.
Boes also said franchisees will be allowed to use Bitcoin to pay franchise fees, while one executive said he would accept Bitcoin as part of his compensation package, calling it a step toward new models of pay in the restaurant industry.
“Bitcoin is making it possible for stake ‘and ‘n shake to create a new space in fast food. We’re bringing high quality to the masses.”
The chain is also leaning into Bitcoin culture with Bitcoin-themed food, aiming to turn its payment strategy into a broader consumer-facing campaign.
Boes summed up the company’s message by tying its Bitcoin strategy to Steak ’n Shake’s broader operating model, saying:
“A healthy currency within a healthy company is delivering healthier food options at great prices.”