Bitcoin Adoption Accelerates as Companies Integrate Crypto into Operations and Balance Sheets

Restaurant Chain Offers Bitcoin Employee Benefits

Steak 'n Shake has announced a novel approach to employee retention by offering Bitcoin bonuses to hourly workers at company-operated locations. Beginning March 1, hourly employees will receive a Bitcoin bonus of $0.21 per worked hour, subject to a two-year vesting period ^[1].

The program translates to approximately $8.40 in Bitcoin per week for full-time employees working 40 hours, accumulating to roughly $437 annually based on a standard 52-week schedule ^[1]. The initiative is supported by Fold, a Bitcoin rewards and payments company ^[1].

This strategy appears tailored to appeal to younger workers who show greater openness to cryptocurrency. A recent survey from crypto exchange OKX revealed that 40% of Gen Z and 41% of millennials have high trust in crypto platforms, compared with only 9% of baby boomers ^[1]. The National Restaurant Association reports that approximately 40% of restaurant and foodservice workers are under 25, with 60% under 35 ^[1].

The fast-food chain has been accepting Bitcoin payments across its restaurant network since May 2025, a move the company credits with stronger performance ^[1]. Last Friday, Steak 'n Shake disclosed holding approximately $10 million in Bitcoin, noting that same-store sales have "risen dramatically" since introducing BTC payments, though the company did not specify whether its holdings grew through price appreciation, customer payments, or new purchases ^[1].

Strive Plans Major Bitcoin Acquisition

In a separate development, Strive announced its intention to raise up to $150 million through a follow-on offering of its Variable Rate Series A Perpetual Preferred Stock, known as SATA Stock, subject to market conditions ^[2]. The offering is registered under the Securities Act of 1933 ^[2].

The company plans to use proceeds from the offering, combined with cash on hand and potentially funds from terminating certain derivative contracts tied to convertible debt, to repurchase or redeem all or a portion of the 4.25% Convertible Senior Notes due 2030 issued by its subsidiary Semler Scientific, Inc. ^[2]. These notes are guaranteed by Strive and were originally issued under an indenture with U.S. Bank Trust Company, National Association acting as trustee ^[2].

Additional funds may be directed toward paying down Semler Scientific's borrowings under its loan agreements with Coinbase Credit Inc., acquiring additional bitcoin and related products, and supporting general corporate needs ^[2]. The company is also negotiating with some holders of the Semler Convertible Notes to potentially exchange their notes for shares of SATA Stock ^[2].

Growing Corporate Bitcoin Adoption

These moves reflect a broader trend of companies integrating Bitcoin into their business operations. In May, Block Inc. announced it would begin rolling out BTC payments on its Square point-of-sale system, allowing merchants to accept Bitcoin using existing Square hardware via the Lightning Network, according to CEO Jack Dorsey ^[1]. Sellers can either hold BTC or automatically convert it to fiat at checkout ^[1].

PayPal followed suit in July 2025, allowing merchants to accept Bitcoin and other cryptocurrencies through its Pay with Crypto checkout feature, with payments converted into fiat or stablecoins at the point of sale ^[1].

According to BitcoinTreasuries.NET data, 194 public companies now hold a total of 1.13 million Bitcoin on their balance sheets ^[1]. Barclays and Cantor are serving as joint book-running managers for Strive's offering, with Clear Street acting as co-manager ^[2].