Biglari Holdings
"We aim to be a Maximum-Wage Employer in our respective communities," Steak 'n Shake said. "We look to pay the best to obtain the best so we can give the best!"
The average work week for all private nonfarm employees in the U.S. is approximately 34.3 hours, according to the Bureau of Labor Statistics. Assuming all Steak 'n Shake hourly employees log these hours, that's about 137 hours per month, translating to a $28 BTC bonus.
Steak 'n Shake's Big Bet On Apex Crypto
Steak 'n Shake has been actively integrating Bitcoin into its operations. Earlier this month, the fast-food chain reported that its same-store sales surged dramatically after introducing BTC payments.
Steak 'n Shake said earlier that BTC sales go into a Strategic Bitcoin Reserve, which is used to fund employee bonuses.
The company added $15 million worth of BTC to the reserve in January. However, the holdings have dwindled to $11 million as of this writing, according to BitcoinTreasuries.net, amid the ongoing price slump.
The company's decision to offer Bitcoin bonuses to its hourly employees is a testament to its commitment to leveraging the potential of digital currencies while also ensuring the welfare of its employees.
Price Action: At the time of writing, BTC was exchanging hands at $68,136.56, up 2.45% over the last 24 hours, according to data from Benzinga Pro.
Biglari shares closed 13.25% lower at $336.40 on Monday. Year-to-date, the stock has gained 1.19%.
According to Benzinga's Edge Stock Rankings, the stock boasts a high Momentum rating with solid medium- and long-term trends, though it trailed in the short term.
