Steak ’n Shake officially added $10 million in Bitcoin to its corporate treasury. This move follows the success of their "Bitcoin-to-Burger" initiative launched in mid-2025.

The chain's "self-reinforcing cycle" works by taking all Bitcoin revenue from customer sales and funneling it directly into a Strategic Bitcoin Reserve (SBR). Instead of converting to cash, they hold the asset, which helps fund restaurant remodels and ingredient upgrades.

Why it's working:

Sales Growth: The company reported a 15% increase in same-store sales since adopting the strategy, significantly outperforming its fast-food competitors.

Cost Efficiency: Using the Lightning Network for payments has cut their transaction processing fees by 50% compared to traditional credit cards.

Brand Loyalty: They have successfully targeted a younger, tech-savvy demographic with products like the "Bitcoin Stamped" burger and rewards programs that pay out in small amounts of Bitcoin (satoshis).

This $10 million purchase is their first major direct market buy, cementing their status as the first major U.S. restaurant chain to treat Bitcoin as a primary treasury asset.

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