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Steak ’n Shake Says Bitcoin Payments Could Cut Processing Fees by About 50%

The restaurant chain said Bitcoin could save roughly $6 million a year if all credit card users switched, highlighting the potential cost advantage of crypto payments for merchants.

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Fact Check
The claim is directly and consistently supported by multiple independent sources. CoinDesk reported COO Dan Edwards making the 50% processing fee reduction claim at the Bitcoin 2025 conference on May 27, 2025. The $6 million annual savings figure was stated by a Steak 'n Shake executive and is corroborated by Bitcoin Magazine, Crypto Briefing, and CryptoNews. Bitcoin Magazine's January 2026 article further confirms the 50% figure as an established, previously stated fact. All sources are consistent with no conflicting evidence found.
Summary

Steak ’n Shake said using Bitcoin for payments reduces processing fees by about 50% compared with credit cards. The company added that if every credit card customer paid with Bitcoin, it would save roughly $6 million annually. The statement points to a core use case for Bitcoin as a payment network: lower transaction costs for merchants. Payment processing fees are a major expense for retailers, and lower-cost digital payments can improve margins if customers are willing to use them.

Terms & Concepts
  • Bitcoin payments: Transactions settled using Bitcoin instead of traditional card networks or bank payment systems.
  • Processing fees: Charges paid by merchants to payment providers for handling customer transactions, often including card network and service costs.