Steak n' Shake Has Only Been Accepting Bitcoin Payments for Two Weeks, but It's Already a 'Win' for the Company

LAS VEGAS, Nevada — Steak n’ Shake has only been accepting bitcoin payments for two weeks, but the American fast food chain’s COO Dan Edwards said it’s already been a “win”

Steak n' Shake is already saving 50% on processing fees with bitcoin payments compared to credit cards, and customers are also benefiting, the American fast food chain's COO Dan Edwards said Tuesday.

Speaking at Bitcoin 2025 in Las Vegas, Edwards said that since Steak n' Shake began accepting bitcoin on May 16, the company has seen a "strong start" with the cryptocurrency.

"We are saving about 50% in our processing fees when customers choose to pay in bitcoin. This means that bitcoin is a win for the customer, it’s a win for us as a merchant, and it’s a win for the bitcoin community," Edwards said.

"The day we launched bitcoin, out of every 500 bitcoin transactions that day, one of them was at Steak n' Shake."

Edwards said that the company wanted to provide its customers with another viable option by which to pay for its products.

"We understand that allowing customers to pay with bitcoin alongside cash and credit cards, puts bitcoin on par with those methods, those other globally accepted payment methods," he said.

"We are rolling out bitcoin in phases. We started accepting bitcoin for food and beverages, and we are now also accepting bitcoin for franchise development. So if any of you in the audience today are interested in opening a Steak n' Shake franchise, you can do so using bitcoin."

Edwards said that the company is looking for other ways it can embrace technology to bring its food into the future.

"We are excited about the possibilities of technology in the future of food. We are already seeing some interesting developments, such as robo-taxis, cyber-chefs, and drones being used to deliver food."