Steak ‘n Shake Reveals Bitcoin Payment System Slashes Costs by Half
At the Bitcoin 2026 Conference in Las Vegas, Michael Boes, Steak ‘n Shake’s Chief MAHA Officer, shared how Bitcoin has significantly impacted the restaurant chain’s business. He noted a surge of 2 million new customers, substantial cost savings, and a thorough menu revamp attributable to the adoption of Bitcoin payments.
Boes highlighted that the chain initiated its Bitcoin payment system on May 16, 2025, utilizing the Lightning Network. The results were immediate; same-store sales jumped by 11% in Q2 2025 and soared to 15% in Q3 2025. This performance outstripped major competitors like McDonald’s, Taco Bell, and Domino’s.
He proudly declared it as the highest increase in same-store sales within the entire restaurant sector.
BREAKING: Steak ‘n Shake reports, “when we use bitcoin, we save 50% on processing fees compared to traditional credit card users.”
“If every credit card user switched to bitcoin, we would save around $6 million each year. That’s significant!” pic.twitter.com/NxuFOa3xmW
— Bitcoin Magazine (@BitcoinMagazine) April 29, 2026
The financial rationale for embracing Bitcoin is clear, according to Boes. Each time a customer opts to pay with Bitcoin instead of a credit card, Steak ‘n Shake benefits from a reduction of approximately half on processing costs. Credit card companies typically charge businesses between 2.5% and 3.5% per transaction.
“We’re advancing with bitcoin – it represents the future of currency,” Boes asserted.
Enhancing Quality with Bitcoin Savings
The potential savings amounting to about $6 million annually could directly enhance food quality at Steak ‘n Shake. Boes remarked that these funds facilitate improvements in their offerings.
“Bitcoin is genuine money powered by real energy,” he stated during his presentation. “It’s an effective currency enabling us to produce healthier products.”
Steps toward these improvements are already in progress. The chain plans to eliminate microwaves from all kitchens while transitioning to fully grass-fed beef across its locations starting June 1.
Previously, they shifted from using seed oils to beef tallow for frying fries as part of their commitment to the Make America Healthy Again initiative.
New Menu Items Celebrating Bitcoin
During the conference, Boes also introduced two innovative menu items inspired by Bitcoin: a Bitcoin Milkshake and a Bitcoin Steakburger—both reflective of Bitcoin’s capped supply of 21 million coins.
Steak ‘n Shake has established a self-sustaining Bitcoin economy through its payment strategy. All Bitcoins received are funneled into the company’s strategic reserves, which currently stand at $10 million.
This reserve helps fund a bonus program that awards hourly employees $0.21 for each hour worked. Notably, Boes disclosed his acceptance of Bitcoin as part of his executive salary package as well.
“I’m among the first executives in this industry accepting bitcoin as compensation,” he added. “I hope this sets a precedent for future compensation models throughout our sector.”
The restaurant chain has hundreds of establishments across the United States and internationally in countries such as France, Italy, Portugal, and Monaco.