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Heat a sous vide water bath to 131F degrees for rare to medium rare (recommended for best results). Cook 134-140F degrees for medium, and 145F degrees for medium well.
Rub the picanha with olive oil and salt.
Place in a bag and use a vacuum sealer to remove all the air. You can also use the water displacement method with a ziplock freezer bag to remove the air (see post above for explanation).
Cook for 6 hours in the water bath.
Remove and immediately place in an ice bath for 5-10 minutes to stop the cooking.
Heat a cast iron skillet, griddle or grill over high heat until smoking.
Place the picanha on, fat side down, and sear for about 1-2 minutes (until fat is rendered and browned).
Flip and cook another 45-60 seconds to brown.
Remove, slice and serve with chimichurri sauce or the lime juice mixture.
Combine the salt, pepper and lime juice in a bowl. Adjust for flavor preference.