Prepare your charcoal by lighting and reducing it down to a whiter coal. Place the charcoal on one side of your grill.
Trim off any hanging pieces of membrane or fat from both sides of the meat. Cut the picanha into multiple steaks. I like to cut the picanha into three even steaks and keep the corner piece for a quick pitmaster's snack!
Rub the steaks all over with olive oil and season all over with the steak seasoning.
Place the picanha streaks on one thick skewer or two thin skewers. Make sure the fat caps are all facing the same direction.
Place the picanha directly over the coals and grill for two minutes on each side.
Then, place on the opposite side of the charcoal and cook an additional 8-10 minutes on each side or until the internal temperature is 115°F.
Finally, sear them directly over coals for an additional one minute on each side or until the internal temperature is 130°F. Make sure to sear the fat cap well.
Remove from the grill and rest for 5-10 minutes.
Steak seasoning
Combine the salt, pepper, granulated garlic, cumin, and smoked paprika in a small bowl or lidded jar.
For the Smoked Chimichurri
Grill the green onions, lime, and shallots, just enough to produce a decent char. When cool enough, mince the onions finely.
Add the juice of the lime, and all the remaining ingredients to a jar and combine. Then add one small piece of charcoal from the grill. Close the jar and let it sit while you grill the picanha. Remove the piece of charcoal before mixing and serving.