Popular burger joint Steak ’n Shake buys $10 million bitcoin

Core Insights - Steak 'n Shake has added $10 million worth of bitcoin to its corporate treasury, continuing its engagement with cryptocurrency after eight months of accepting BTC payments at all U.S. locations [1][4] Group 1: Corporate Strategy - The addition of bitcoin to the treasury is part of a "self-reinforcing" cycle where customers pay in bitcoin, leading to increased sales, with all crypto revenue directed into the Strategic Bitcoin Reserve (SBR) [2] - The funds from the SBR are utilized for upgrades such as better ingredients and restaurant remodels without raising menu prices [2] Group 2: Financial Performance - Since the acceptance of bitcoin payments began in May last year, same-store sales have increased dramatically, with a reported rise of more than 10% in Q2 2025 [3][4] - The company saves approximately 50% in processing fees when customers opt to pay in bitcoin [4] Group 3: Product Innovation and Community Engagement - In October, Steak 'n Shake introduced a Bitcoin-themed burger and started donating a portion of each Bitcoin Meal to open-source Bitcoin development [4] Group 4: Market Context - While the $10 million investment in bitcoin is modest compared to larger companies, it reflects ongoing corporate accumulation of bitcoin, with total bitcoin held in treasuries now exceeding 4 million [5]