Fast food chain Steak 'n Shake announced January 21 it will pay hourly employees a Bitcoin bonus of $0.21 per hour worked starting March 1, with funds locked for two years through a vesting period.
The bonus program, administered through Bitcoin rewards app Fold, amounts to approximately $438 annually for full-time workers at current wage levels - roughly 1.4% to 1.8% above typical fast food hourly rates of $12 to $15.
The announcement drew immediate social media criticism focused on the small compensation amount, the two-year wait period that transfers Bitcoin's price volatility risk to workers, and whether the program functions primarily as brand marketing.
What Happened
Hourly employees at company-operated Steak 'n Shake locations will accumulate Bitcoin bonuses at a rate of $0.21 per hour, with the cryptocurrency accessible only after completing two years of continuous employment.
The $0.21 figure references Bitcoin's 21 million token supply cap, according to company messaging, though the symbolic connection offers no additional financial value to workers earning near minimum wage.
The burger chain operates 394 U.S. locations as of 2026, down from 628 restaurants in 2018 - a 37% reduction following 234 closures over eight years, according to industry data.
Parent company Biglari Holdings' stock declined 64% year-to-date through January 21, trading at $446.80 after a 2.91% loss in Tuesday's session.
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Program Economics
For workers employed 40 hours weekly across 52 weeks, the bonus totals $436.80 in Bitcoin annually - before accounting for potential price appreciation or depreciation during the mandatory two-year holding period.
Fast food industry employee turnover typically exceeds 100% annually, meaning many of the 10,000 employees may leave before reaching the two-year vesting threshold.
The company purchased $10 million in Bitcoin on January 17, equivalent to approximately 105 BTC, as part of a "Strategic Bitcoin Reserve" funded by customer cryptocurrency payments since adopting Lightning Network acceptance in May 2025.
The chain reported double-digit same-store sales growth for 2025, though it has not disclosed whether cryptocurrency payments contributed materially to that performance relative to other operational factors.
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