Steak ‘n Shake Sees Surge in Sales After Bitcoin Payment Launch
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2 days ago
0mins
Should l Buy BH?
Source: Benzinga
- Significant Sales Growth: Steak ‘n Shake reported a dramatic rise in same-store sales after launching Bitcoin payments, indicating that the “transformative power” of Bitcoin positively impacted customer spending behavior.
- Bitcoin Strategic Reserve: All Bitcoin sales are directed into a Strategic Bitcoin Reserve that funds employee bonuses, enhancing employee motivation while demonstrating the company's commitment to integrating Bitcoin into its operations.
- Employee Incentive Program: The company has introduced a BTC bonus for all hourly employees at its company-operated restaurants, collectible after a two-year vesting period, aimed at attracting and retaining talent while boosting employee morale.
- Strong Stock Performance: Biglari Holdings' stock has risen 19.35% year-to-date, despite a 0.48% decline on Friday, with overall trends indicating strong momentum, reflecting market confidence in its Bitcoin strategy.
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Analyst Views on BH
About BH
Biglari Holdings Inc. is a holding company owning subsidiaries engaged in several diverse business activities, including property and casualty insurance and reinsurance, licensing and media, restaurants, and oil and gas. The Company’s restaurant operations are conducted through two subsidiaries: Steak n Shake Inc. (Steak n Shake) and Western Sizzlin Corporation (Western Sizzlin). Its insurance and reinsurance business activities are conducted through subsidiaries, namely, First Guard Insurance Company and its affiliated agency, 1st Guard Corporation (First Guard); Southern Pioneer Property & Casualty Insurance Company and its affiliated agency, Southern Pioneer Insurance Agency, Inc. (Southern Pioneer); and Biglari Reinsurance Ltd. Its oil and gas operations are conducted through two entities, Southern Oil Company (Southern Oil) and Abraxas Petroleum Corporation (Abraxas Petroleum). Southern Oil operates oil and natural gas properties offshore in Louisiana state waters.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Steak ‘n Shake Sees Surge in Sales After Bitcoin Payment Launch
- Significant Sales Growth: Steak ‘n Shake reported a dramatic rise in same-store sales after launching Bitcoin payments, indicating that the “transformative power” of Bitcoin positively impacted customer spending behavior.
- Bitcoin Strategic Reserve: All Bitcoin sales are directed into a Strategic Bitcoin Reserve that funds employee bonuses, enhancing employee motivation while demonstrating the company's commitment to integrating Bitcoin into its operations.
- Employee Incentive Program: The company has introduced a BTC bonus for all hourly employees at its company-operated restaurants, collectible after a two-year vesting period, aimed at attracting and retaining talent while boosting employee morale.
- Strong Stock Performance: Biglari Holdings' stock has risen 19.35% year-to-date, despite a 0.48% decline on Friday, with overall trends indicating strong momentum, reflecting market confidence in its Bitcoin strategy.
See More
Steak ’n Shake's Bitcoin Payments Drive Significant Sales Growth
- Significant Sales Growth: Since accepting Bitcoin payments, Steak ’n Shake has reported a 'dramatic' increase in same-store sales, indicating that this innovative payment method effectively enhances consumer purchasing willingness and strengthens brand appeal.
- Strategic Bitcoin Reserve: The company routes Bitcoin payment revenues into a Strategic Bitcoin Reserve for employee bonuses, demonstrating a long-term commitment to Bitcoin that may attract more employee engagement and boost morale.
- Bitcoin Bonus Program: Steak ’n Shake pays employees $0.27 in Bitcoin per hour worked with a two-year vesting period, aiming to enhance employee loyalty and attract new talent through this incentive structure.
- Market Impact and Outlook: Although overall demand for Bitcoin payments has declined, Steak ’n Shake's success could inspire other traditional businesses to adopt similar strategies, potentially driving broader acceptance of Bitcoin as a payment method.
See More
Steak ‘n Shake Boosts Bitcoin Reserves by $5 Million
- Bitcoin Reserve Increase: Steak ‘n Shake announced a $5 million addition to its strategic reserve of Bitcoin, aiming to enhance food quality and drive same-store sales growth through financial technology, thereby strengthening the company's financial stability.
- Global Payment Integration: The fast-food chain began accepting Bitcoin payments globally via the Lightning Network, reporting nearly 50% savings in transaction fees within two weeks, significantly improving payment efficiency and reducing operational costs.
- Employee Incentive Program: Steak ‘n Shake introduced a Bitcoin bonus for all hourly employees at company-operated restaurants, collectible after a two-year vesting period, which not only boosts employee loyalty but may also attract more talent to the company.
- Strong Stock Performance: Biglari Holdings shares rose 1.67% in after-hours trading and have surged 19.83% year-to-date, reflecting market confidence and positive investor response to the company's Bitcoin integration strategy.
See More
Steak ‘n Shake to Pay Employees Bitcoin Bonuses, Potential Annual Total of $436.80
- Bitcoin Compensation Plan: Starting March 1, Steak ‘n Shake will pay all hourly employees at company-operated restaurants a Bitcoin bonus of $0.21 per hour, potentially totaling $436.80 annually, which could significantly increase if Bitcoin appreciates over time.
- Employee Benefits and Market Response: The plan includes a two-year vesting period aimed at enhancing employee satisfaction and attracting talent, while the company claims same-store sales have risen dramatically since accepting Bitcoin, creating a self-sustaining growth system.
- Increased Bitcoin Reserves: Steak ‘n Shake recently announced a $10 million increase in its Bitcoin reserves, demonstrating strong support for cryptocurrency, and noted that on the day of the payment launch, one in every 500 Bitcoin transactions globally occurred at its restaurants during the Bitcoin 2025 Conference.
- Stock Performance: Biglari Holdings Inc's stock rose 2.7% to $456.10, with a 106.5% increase over the past 52 weeks, reflecting positive market sentiment towards the company's Bitcoin strategy.
See More
Steak ‘n Shake Introduces Bitcoin Bonus Program, Employees Earn $0.21 Per Hour
- Bitcoin Bonus Program: Steak ‘n Shake announced that starting March 1, it will provide all hourly employees with a Bitcoin bonus of $0.21 per hour worked, with a two-year vesting period, aimed at attracting and retaining talent.
- Transaction Fee Savings: Following its decision to accept Bitcoin payments in 2025, the company reported nearly 50% savings in transaction fees within two weeks, demonstrating the cost-effectiveness of Bitcoin payments and furthering its digital currency strategy.
- Strategic Bitcoin Reserve: Steak ‘n Shake has allocated all Bitcoin sales into a Strategic Bitcoin Reserve, recently adding $10 million worth of Bitcoin, indicating the company's long-term commitment to cryptocurrency.
- Market Reaction: Despite Biglari Holdings' stock price plunging 64% year-to-date, the company's innovative moves in Bitcoin payments may enhance its market image and attract more investor interest.
See More
Sardar Biglari Acquires 2,221 Shares of Biglari Holdings for $705,671
- Insider Purchase Activity: Sardar Biglari, Chairman and CEO of Biglari Holdings, acquired 2,221 Class B shares between December 8 and 10, 2025, for a total of $705,671.28, indicating confidence in the company's future prospects.
- Ownership Structure Analysis: Following the transaction, Biglari's direct ownership remained unchanged at one share, while all newly acquired shares were held indirectly through The Lion Fund, L.P., reflecting a strategic approach to investment structure.
- Historical Transaction Comparison: The 2,221 shares purchased were below the historical median of 3,271 shares for all insider transactions at Biglari Holdings, representing only 0.17% of the company's aggregate holdings at the time, indicating a relatively conservative move in historical context.
- Market Performance Review: As of January 12, 2026, Biglari Holdings' stock price surged nearly 31% in 2025 and has increased by nearly another 30% year-to-date, showcasing the company's strong market performance and growth potential.
See More
Steak ‘n Shake Sees Surge in Sales After Bitcoin Payment Launch
- Significant Sales Growth: Steak ‘n Shake reported a dramatic rise in same-store sales after launching Bitcoin payments, indicating that the “transformative power” of Bitcoin positively impacted customer spending behavior.
- Bitcoin Strategic Reserve: All Bitcoin sales are directed into a Strategic Bitcoin Reserve that funds employee bonuses, enhancing employee motivation while demonstrating the company's commitment to integrating Bitcoin into its operations.
- Employee Incentive Program: The company has introduced a BTC bonus for all hourly employees at its company-operated restaurants, collectible after a two-year vesting period, aimed at attracting and retaining talent while boosting employee morale.
- Strong Stock Performance: Biglari Holdings' stock has risen 19.35% year-to-date, despite a 0.48% decline on Friday, with overall trends indicating strong momentum, reflecting market confidence in its Bitcoin strategy.
See More
Steak ’n Shake's Bitcoin Payments Drive Significant Sales Growth
- Significant Sales Growth: Since accepting Bitcoin payments, Steak ’n Shake has reported a 'dramatic' increase in same-store sales, indicating that this innovative payment method effectively enhances consumer purchasing willingness and strengthens brand appeal.
- Strategic Bitcoin Reserve: The company routes Bitcoin payment revenues into a Strategic Bitcoin Reserve for employee bonuses, demonstrating a long-term commitment to Bitcoin that may attract more employee engagement and boost morale.
- Bitcoin Bonus Program: Steak ’n Shake pays employees $0.27 in Bitcoin per hour worked with a two-year vesting period, aiming to enhance employee loyalty and attract new talent through this incentive structure.
- Market Impact and Outlook: Although overall demand for Bitcoin payments has declined, Steak ’n Shake's success could inspire other traditional businesses to adopt similar strategies, potentially driving broader acceptance of Bitcoin as a payment method.
See More
Steak ‘n Shake Boosts Bitcoin Reserves by $5 Million
- Bitcoin Reserve Increase: Steak ‘n Shake announced a $5 million addition to its strategic reserve of Bitcoin, aiming to enhance food quality and drive same-store sales growth through financial technology, thereby strengthening the company's financial stability.
- Global Payment Integration: The fast-food chain began accepting Bitcoin payments globally via the Lightning Network, reporting nearly 50% savings in transaction fees within two weeks, significantly improving payment efficiency and reducing operational costs.
- Employee Incentive Program: Steak ‘n Shake introduced a Bitcoin bonus for all hourly employees at company-operated restaurants, collectible after a two-year vesting period, which not only boosts employee loyalty but may also attract more talent to the company.
- Strong Stock Performance: Biglari Holdings shares rose 1.67% in after-hours trading and have surged 19.83% year-to-date, reflecting market confidence and positive investor response to the company's Bitcoin integration strategy.
See More
Steak ‘n Shake to Pay Employees Bitcoin Bonuses, Potential Annual Total of $436.80
- Bitcoin Compensation Plan: Starting March 1, Steak ‘n Shake will pay all hourly employees at company-operated restaurants a Bitcoin bonus of $0.21 per hour, potentially totaling $436.80 annually, which could significantly increase if Bitcoin appreciates over time.
- Employee Benefits and Market Response: The plan includes a two-year vesting period aimed at enhancing employee satisfaction and attracting talent, while the company claims same-store sales have risen dramatically since accepting Bitcoin, creating a self-sustaining growth system.
- Increased Bitcoin Reserves: Steak ‘n Shake recently announced a $10 million increase in its Bitcoin reserves, demonstrating strong support for cryptocurrency, and noted that on the day of the payment launch, one in every 500 Bitcoin transactions globally occurred at its restaurants during the Bitcoin 2025 Conference.
- Stock Performance: Biglari Holdings Inc's stock rose 2.7% to $456.10, with a 106.5% increase over the past 52 weeks, reflecting positive market sentiment towards the company's Bitcoin strategy.
See More
Steak ‘n Shake Introduces Bitcoin Bonus Program, Employees Earn $0.21 Per Hour
- Bitcoin Bonus Program: Steak ‘n Shake announced that starting March 1, it will provide all hourly employees with a Bitcoin bonus of $0.21 per hour worked, with a two-year vesting period, aimed at attracting and retaining talent.
- Transaction Fee Savings: Following its decision to accept Bitcoin payments in 2025, the company reported nearly 50% savings in transaction fees within two weeks, demonstrating the cost-effectiveness of Bitcoin payments and furthering its digital currency strategy.
- Strategic Bitcoin Reserve: Steak ‘n Shake has allocated all Bitcoin sales into a Strategic Bitcoin Reserve, recently adding $10 million worth of Bitcoin, indicating the company's long-term commitment to cryptocurrency.
- Market Reaction: Despite Biglari Holdings' stock price plunging 64% year-to-date, the company's innovative moves in Bitcoin payments may enhance its market image and attract more investor interest.
See More
Sardar Biglari Acquires 2,221 Shares of Biglari Holdings for $705,671
- Insider Purchase Activity: Sardar Biglari, Chairman and CEO of Biglari Holdings, acquired 2,221 Class B shares between December 8 and 10, 2025, for a total of $705,671.28, indicating confidence in the company's future prospects.
- Ownership Structure Analysis: Following the transaction, Biglari's direct ownership remained unchanged at one share, while all newly acquired shares were held indirectly through The Lion Fund, L.P., reflecting a strategic approach to investment structure.
- Historical Transaction Comparison: The 2,221 shares purchased were below the historical median of 3,271 shares for all insider transactions at Biglari Holdings, representing only 0.17% of the company's aggregate holdings at the time, indicating a relatively conservative move in historical context.
- Market Performance Review: As of January 12, 2026, Biglari Holdings' stock price surged nearly 31% in 2025 and has increased by nearly another 30% year-to-date, showcasing the company's strong market performance and growth potential.
See More
