Steak 'n Shake said Bitcoin users helped drive stronger restaurant sales after it began accepting Bitcoin payments in May 2025. Biglari Holdings Inc., which owns the chain, reported 13.8% same-store sales growth in the second quarter of 2026 at domestic company-operated and franchise-partner-operated restaurants. The chain said lower transaction costs, increased business and savings supported reinvestment in food quality, and it now describes itself as a Bitcoin company. Steak 'n Shake routes customer Bitcoin payments into a Strategic Bitcoin Reserve, added $10 million and $5 million in Bitcoin exposure in January, and offers hourly company-operated restaurant employees a 21-cent Bitcoin bonus for each hour worked, subject to a two-year vesting period. A separate Fold promotion offered customers $5 in Bitcoin at roughly 400 U.S. locations.