Prep the Steak: Remove the ribeye from the refrigerator 30 to 45 minutes before cooking. Thoroughly pat the steak completely dry on all sides with paper towels. Season generously with kosher salt and coarsely ground black pepper, pressing the seasoning gently into the meat so it adheres.
Heat the Skillet: Place a heavy cast iron skillet over high heat. Allow the pan to get smoking hot (about 3-5 minutes). Add the avocado oil, ensuring it coats the bottom of the pan evenly.
The First Sear: Carefully lay the steak into the skillet, laying it away from you to prevent splashing. Press down lightly with tongs or a spatula to ensure even contact. Sear undisturbed for 3 to 4 minutes until a deep, dark brown crust forms.
Flip and Baste: Flip the steak. Immediately add the unsalted butter, crushed garlic cloves, and fresh thyme sprigs to the skillet. As the butter melts and begins to foam, tilt the pan slightly toward you. Using a large spoon, continuously baste the hot melted butter over the top of the steak for another 2 to 3 minutes.
Check Temperature: Use an instant-read meat thermometer inserted into the thickest part of the steak. Remove the steak at 130°F for medium-rare, or 140°F for medium. Be sure to sear the fat cap on the edge for about 30 seconds using tongs before removing from the heat.
Rest the Meat: Transfer the steak to a cutting board (ideally one with a juice groove). Loosely tent with aluminum foil and let the meat rest undisturbed for at least 10 minutes.
Slice and Serve: Slice the steak against the grain to ensure a tender bite. Pour any resting juices and remaining browned butter from the pan over the sliced meat just before serving.