Overview
- The company tweeted that same-store sales have climbed sharply since it began taking Bitcoin nine months ago.
- All Bitcoin receipts are deposited into a Strategic Bitcoin Reserve that the firm says underwrites employee bonuses of $0.27 per hour with a two-year vest.
- Public trackers and company disclosures indicate the reserve holds about 161 BTC—roughly $11 million—after a recently announced $10 million addition, sitting about 26% below an average purchase price of $92,851.
- Steak 'n Shake has not quantified the impact on revenue or margins, and additional details may emerge through parent company Biglari Holdings’ regulatory filings.
- Industry voices call the restaurant an outlier as overall merchant demand for Bitcoin payments has declined, noting broader adoption would require stronger Lightning infrastructure.