Steak ‘n Shake said its same-store sales rose 10.7% quarter-on-quarter in Q2 2025, according to its parent company’s latest filing.
On Aug. 8, the chain thanked Bitcoin users in a post on X, writing: “Bitcoin has been a game changer.”
Steak ‘n Shake outpaces major U.S. rivals
Steak ‘n Shake posted a 10.7% quarter-over-quarter rise in same-store sales in Q2, the strongest result among major U.S. fast-food chains that reported for the period.
The outperformance adds to signs that merchant Bitcoin payments remain active in the U.S., where Bitcoin is mostly treated as an investment, even as day-to-day use is more common in some other markets.
Industry context shared friday by Restaurant Business Magazine editor-in-chief Jonathan Maze showed peer results ranging from –7.1% to +6.1% across brands such as McDonald’s, Domino’s, and Taco Bell.
The resturant began accepting Bitcoin on May 16 in all locations where permitted by law, including in the U.S., France, Monaco, and Spain.
The company said the rollout would make cryptocurrency payments available to more than 100 million customers.
About two weeks after launch, COO Dan Edwards said Bitcoin cut the company’s payment processing costs by about 50%.
This means that Bitcoin is a win for the customer, it’s a win for us as the merchant, and it’s a win for you in the Bitcoin community.
Edwards said at the Bitcoin 2025 conference in late May.
The chain’s U.S. footprint has shrunk since its 2018 peak, falling from 628 stores to 397 as of May 28, 2025, according to ScrapeHero. Florida has the most locations with 79, about 20% of the total.