Steak ’n Shake is making history as the first major restaurant to establish a Strategic Bitcoin Reserve.
All payments received in Bitcoin will now be added to their Strategic Bitcoin Reserve (SBR), marking a fun and major step into bitcoin adoption for the fast-food chain.
As part of the initiative, the company will donate 210 sats from every Bitcoin Meal sold to the Open Sats Initiative, Inc. over the next 12 months.
Customers who purchase and register their Bitcoin Steakburger through the Fold App will also receive $5 in free Bitcoin, with instructions provided on their receipts.
The move comes on the heels of a strong quarter, with same-store sales up 15% — outpacing all competitors — highlighting the growing impact of cryptocurrency engagement on the restaurant’s bottom line.
Steak ‘n Shake partners with Fold
Earlier today, the company and Fold Holdings launched a limited-time promotion at more than 1,200 Steak ’n Shake locations, letting customers earn $5 in bitcoin with their Bitcoin Meal or Bitcoin Steakburger.
Diners simply upload their receipt to bitcoinmealdeal.com, redeem a code through the Fold app, and instantly receive their reward.
The promotion marks the first U.S. restaurant menu item tied to bitcoin rewards, with the Bitcoin logo even stamped on the burger bun as a nod to mainstream adoption.
The campaign coincides with the 17th anniversary of the Bitcoin white paper and builds on Steak ’n Shake’s earlier adoption of Lightning Network payments.
Fold, which holds roughly 1,500 BTC, continues expanding its bitcoin rewards ecosystem.
Bitcoin improving payment speed
At the Bitcoin 2025 Conference, Steak ‘n Shake executive Dan Edwards highlighted the company’s global adoption of Bitcoin payments via the Lightning Network.
He noted that Bitcoin transactions immediately exceeded expectations, with one in every 500 global Bitcoin transactions occurring at Steak ‘n Shake on launch day
Edwards said that accepting Bitcoin reduced processing fees by 50%, benefiting both the company and customers.
He stressed that the initiative was a genuine payment upgrade, not a marketing stunt, and reported that customer behavior had shifted positively since implementation.
Steak ‘n Shake reported that customer behavior has already shifted. “We’ve seen a sustained spike since adding Bitcoin,” Edwards noted.
Edwards also teased the company’s future plans, calling for more technical talent. “We’re not done. We’re investing in cyber chefs, autonomous drives, AI tech — and we need engineers to help us build it.”