Cook the bacon in a large skillet over medium heat until crispy and browned. Remove from heat and drain on a paper towel.
Heat the butter in a small skillet over medium heat.
Crack the egg and break the yolk (if desired), then season with sea salt and freshly cracked black pepper to taste. Cook for 1-2 minutes, then flip the egg and add cheese to the top.
Add water to the skillet (around the egg) and cover with a lid for 1 minute, or until cheese melts. Side Note: You can also leave the yolk whole if you'd prefer a yolky sandwich. Yum!
Toast an English muffin.
Spread mayonnaise (if using) on one half of the English muffin.
Top with bacon, and the egg with cheese.
Top with hot sauce (optional) and the remaining English muffin half.