Fast food chain Steak ‘n Shake recently announced a new initiative aimed at hourly employees, offering a “Bitcoin bonus” of $0.21 per hour. This announcement was made through a post on X, formerly known as Twitter. The move aims to enhance employee compensation, though it comes with specific conditions that may limit its appeal.
Under this program, all hourly employees at corporate locations will receive the Bitcoin bonus, which will only be accessible after a two-year vesting period. This means that workers must remain with the company for the full duration before they can cash in their accumulated bonuses. The company stated, “We take care of our employees; they, in turn, take care of customers; and the results take care of themselves.”
Details of the Bitcoin Bonus
While the initiative introduces a novel form of compensation, the actual financial impact of the bonus is limited. Assuming a standard work year of 2,080 hours, employees could expect to receive a total of $873.60 in Bitcoin after the vesting period, assuming the value of Bitcoin remains stable. However, this amount may be reduced further by conversion fees when employees attempt to exchange the cryptocurrency for traditional currency, such as USD.
It is also important to note that employees at franchise locations will not be eligible for this bonus. As of June 2025, approximately 60 percent of all Steak ‘n Shake restaurants were operated as franchises, according to food industry publication Tasting Table. This exclusion could limit the program’s effectiveness in improving overall employee morale and retention within the company.
Concerns Surrounding Wage Growth
Critics have raised concerns that the introduction of a Bitcoin bonus could be used as justification for stagnant wages amidst rising living costs. Some question whether the bonus may replace traditional wage increases or annual bonuses, especially in light of ongoing economic pressures faced by workers in the fast food industry.
The announcement comes shortly after Steak ‘n Shake revealed it holds $10 million worth of Bitcoin in its “strategic bitcoin reserve.” This aligns with the company’s previous decision to begin accepting Bitcoin as payment for its products around eight months ago, marking a significant shift in its payment strategy.
As the fast food sector continues to adapt to changing economic landscapes, Steak ‘n Shake’s Bitcoin bonus reflects both an innovative approach to employee compensation and a potential response to broader industry challenges. Whether this initiative will resonate positively with workers or serve merely as a public relations effort remains to be seen.
