TLDR
- Steak ‘n Shake began accepting Bitcoin payments globally on May 16, 2025, using Lightning Network technology
- The company reduced payment processing fees by 50% compared to traditional credit card transactions
- On launch day, 1 out of every 500 Bitcoin transactions worldwide occurred at Steak ‘n Shake locations
- Bitcoin payments are permanent, not a promotional experiment, according to COO Dan Edwards
- The company plans to expand technology integration with autonomous systems, AI, and blockchain initiatives
Steak ‘n Shake has rolled out Bitcoin payment acceptance at all locations globally where regulations allow. The fast food chain implemented the payment system on May 16, 2025, using Lightning Network technology.
Over 300 Steak 'n Shake locations across the U.S. are now accepting Bitcoin, powered by Speed Payment Gateway. Pay for your burgers, shakes and fries with BTC via the Lightning Network—fast, secure, and easy.
Learn more: https://t.co/xsqfbtjN2p— Speed ⚡ Bitcoin lightning payment platform (@speed_LN) May 23, 2025
COO Dan Edwards announced the development at the Bitcoin 2025 Conference in Las Vegas on May 27. The conference featured keynote speakers including Senator Cynthia Lummis and Bo Hines from the Council of Advisers for Digital Assets.
The Lightning Network integration enables faster transaction processing with reduced costs. This blockchain layer allows near-instant settlement compared to traditional Bitcoin transactions.
Edwards reported strong customer adoption from the first day of implementation. The company processed one out of every 500 Bitcoin transactions worldwide on May 16.
Customer response exceeded internal projections according to Edwards. Many customers returned for repeat purchases after trying Bitcoin payments initially.
Processing Fee Reduction
The Bitcoin payment system has delivered immediate financial benefits for the restaurant chain. Processing fees dropped by approximately 50% compared to standard credit card transactions.
This cost reduction stems from the Lightning Network’s efficiency. Traditional credit card processors typically charge merchants 2-3% per transaction.
Edwards emphasized the payment option represents a permanent addition to company infrastructure. The integration was not designed as a promotional campaign or limited-time offer.
Steak ‘n Shake positioned Bitcoin payments alongside cash and credit cards as standard payment methods. This approach treats Bitcoin as equivalent to other globally accepted payment forms.
Technical Implementation and Menu Items
The technical rollout was designed for seamless customer experience. Staff received training to assist customers with Bitcoin transactions.
Several Las Vegas locations introduced Bitcoin-themed menu items to mark the launch. These include the Bitcoin Burger, Super-Sized Bitcoin Meal, and Bitcoin Milkshake.
Edwards mentioned plans for a “blockchain menu” without providing specific details. The company continues developing menu items tied to cryptocurrency themes.
Transaction volumes have remained steady since the initial launch period. Edwards stated customer behavior adapted quickly to the new payment option.
Franchise and Future Technology Plans
The company expanded Bitcoin acceptance beyond customer payments. Potential franchisees can now purchase franchise agreements using Bitcoin.
Steak ‘n Shake is actively hiring engineers to support digital transformation initiatives. These roles focus on blockchain technology, AI systems, and autonomous operations.
Edwards outlined future technology integration plans including robo-taxis, cyber-chefs, and drone delivery systems. The company views Bitcoin payments as part of broader technological advancement.
The rollout continues at locations where cryptocurrency regulations permit Bitcoin transactions. Some international markets may have different implementation timelines based on local laws.
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