Steak ‘n Shake is adding Bitcoin to its employee compensation strategy, but staff cannot access it for two years.
The fast food chain, best known for its steakburgers and hand-dipped milkshakes, announced on January 20 that it will begin offering hourly employees at company-operated restaurants a Bitcoin bonus tied directly to hours worked. The program is scheduled to launch on March 1.
Founded in 1934, Steak ‘n Shake operates hundreds of locations across the United States, with a mix of company-owned and franchised restaurants. The brand has recently expanded its digital presence, including the acceptance of cryptocurrency payments at select locations in recent years.
How Steak ‘n Shake’s Bitcoin bonus works
According to a post shared on X, hourly employees at company-operated restaurants will earn a Bitcoin bonus worth $0.21 for every hour worked.
The company said the Bitcoin bonuses will be subject to a two-year vesting period. Employees will be able to collect their accumulated Bitcoin once that period is completed.
“Starting March 1, Steak n Shake will give all hourly employees at its company-operated restaurants a Bitcoin bonus of $0.21 for every hour worked,” they said in the post. “Employees will be able to collect their Bitcoin pay after a two-year vesting period.”
Steak n Shake also credited Fold, a financial services app focused on Bitcoin rewards, for assisting with the rollout of the program.
The announcement quickly gained traction online, surpassing 1.7 million views within hours of being posted. The company framed the initiative as part of its broader approach to employee compensation and retention.
