Steak 'n Shake, a burger franchise based in Indianapolis, reported double-digit same-store sales growth since it began accepting bitcoin payments in May 2025. The company utilizes the Lightning Network for these transactions, noting that this method is faster and more cost-effective than traditional electronic payments.
The restaurant chain reported a 19% increase in same-store sales for the current quarter. Previously, the company saw growth of 11% in Q2 2025 and 15% in Q3 2025. According to the company, these figures outperformed major competitors such as McDonald's, Taco Bell, and Domino's.
In January, Steak 'n Shake added $10 million in bitcoin to its strategic reserve. Michael Boes, the company's Chief MAHA Officer, stated that bitcoin has become a primary driver of the chain's business performance. The company previously considered accepting other cryptocurrencies but abandoned the plan following feedback from its audience on X.
The company estimates that it saves approximately 50% on processing fees when customers pay with bitcoin instead of credit cards. Traditional payment processors typically charge merchants between 2.5% and 3.5% per transaction.
