| What to Know: - Steak ’n Shake says Bitcoin acceptance dramatically boosted same-store sales. - Lightning Network payments began nine months ago, cutting processing costs roughly half. - Same-store sales rose 10.7% in Q2 and about 15% in Q3 2025. |
Steak ’n Shake reported that accepting Bitcoin (BTC) has lifted same‑store sales “dramatically” and cut payment processing costs by about half, as reported by CoinDesk. The chain enabled Lightning Network payments nine months ago.
Same‑store sales rose 10.7% in Q2 2025 and roughly 15% in Q3 2025, quarter‑on‑quarter, according to Cointelegraph. The rollout began in May 2025 at participating locations.
The company channels Bitcoin receipts into a Strategic Bitcoin Reserve that it has said helps fund employee bonuses, as reported by Decrypt. It has not disclosed how much bitcoin activity contributed to margins or net income.
At the register, customers pay over the Lightning Network, enabling fast, low‑value Bitcoin transactions. In practice, this can lower processor or routing costs versus card rails and minimize chargebacks, though fees vary by provider.
Instead of instantly converting receipts to dollars, the company directs them to its Strategic Bitcoin Reserve. That treasury model retains BTC and, per prior statements, supports staff bonuses while keeping operating cash flows in fiat.
Supporters argue this treats Bitcoin as balance‑sheet “digital gold” rather than pure speculation. “This is what a real digital asset treasury model looks like,” said Vineet Budki, CEO at Sigma Capital.
Key disclosure gaps remain, including the share of tender in BTC and average ticket by payment type. Without audited tender‑mix data, causation between Lightning adoption and same‑store gains cannot be established.
At the time of this writing, Bitcoin traded near $67,748, as reported by Benzinga. Price levels may influence reserve valuations but do not change the reported operational claims.
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