Make Sriracha mayonnaise: In a small bowl, stir together mayonnaise and Sriracha.

In a large skillet, fry bacon over medium-high heat until crisp, about 8 minutes. Transfer to a paper-towel-lined plate.

Form beef into three equal-sized patties. Using a small glass, cut out the center of each patty to create a donut-shaped burger (combine excess meat to form a fourth patty). Season generously with salt and pepper.

Heat a cast-iron skillet to medium-high heat and melt butter. Add burgers and cook for 2 minutes, then flip. Crack an egg into the center of each burger and cook, covered, until whites are set.

Toast buns and spread Sriracha mayonnaise on bottom buns. Build burgers by topping with lettuce, burger, bacon and cheddar.