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Michael Boes, Chief MAHA Officer at Steak ‘n Shake, informed attendees at the Bitcoin 2026 Conference in Las Vegas that Bitcoin has become a primary catalyst for the chain’s business outcomes. He highlighted the acquisition of 2 million new patrons, significant cost reductions, and a comprehensive menu overhaul, all directly attributable to savings generated from bitcoin transactions.
Boes noted that the chain initiated its Bitcoin payment system on May 16, 2025, utilizing the Lightning Network, and the effects were immediate. Comparable store sales experienced an 11% increase quarter-over-quarter in Q2 2025, subsequently accelerating to 15% in Q3 2025, surpassing key competitors such as McDonald’s, Taco Bell, and Domino’s.
He asserted that this represented the highest comparable store sales growth within the restaurant sector.
JUST IN: Fast food giant Steak 'n Shake announces "when we use bitcoin, we save 50% on processing fees vs a traditional credit card user." 👀
"If every credit card user used bitcoin, we would save roughly $6 million annually. Which is huge" 🙌 pic.twitter.com/NxuFOa3xmW
— Bitcoin Magazine (@BitcoinMagazine) April 29, 2026
Boes presented the financial argument for Bitcoin as straightforward. When customers opt for Bitcoin instead of credit cards for payment, Steak ‘n Shake realizes approximately a 50% reduction in processing fees. Conventional credit card processors typically charge merchants between 2.5% and 3.5% for each transaction.
“We are progressing with bitcoin – the future of currency,” Boes stated.
Steak ‘n Shake: Bitcoin is contributing to healthier food options
Boes indicated that if all credit card users transitioned to Bitcoin, the chain would achieve annual savings of about $6 million. He stated that these funds are being directly allocated to enhancing the quality of their food offerings.
“Bitcoin is genuine money created with real energy,” Boes told the assembly. “It is a sound currency that empowers us to produce a healthier product.”
These enhancements are already in progress. Steak ‘n Shake has removed microwaves from its kitchens and will be transitioning to 100% grass-fed and grass-finished beef across all its establishments beginning June 1.
In line with its commitment to the Make America Healthy Again initiative, the company had previously shifted from seed oils to beef tallow for frying its french fries.
On Wednesday, Boes unveiled two new Bitcoin-themed menu items at the conference: a Bitcoin Milkshake and a Bitcoin Steakburger, both conceptualized around Bitcoin’s capped supply of 21 million coins.
Steak ‘n Shake has also established a self-contained Bitcoin economy within its payment strategy. All Bitcoin received from patrons is deposited into the company’s strategic Bitcoin reserve, which has now reached $10 million.
This reserve is utilized to fund a Bitcoin bonus program for hourly staff — amounting to $0.21 per hour worked — which commenced on March 1. Boes confirmed that he also receives a portion of his compensation in Bitcoin.
“I am among the pioneers in the industry to accept bitcoin as part of my executive remuneration,” Boes remarked. “I trust this will establish a new precedent for compensation models throughout the sector.”
The restaurant chain operates numerous outlets across the United States, as well as in France, Italy, Portugal, and Monaco.
Information compiled from materials : bitcoinmagazine.com