Combine the bay leaves, thyme, and salt in a spice grinder and process until powdery.

Place the butter in a mixing bowl. Add the powdered mixture and, using a handheld electric mixer, blend well.

Scrape the butter mixture onto the center of a sheet of plastic film. Pull the film up and over the soft butter and, using your hands, form the butter into a roll about 1¼ inches in diameter. Wrap tightly and refrigerate for up to 1 week, or wrap in freezer wrap, label, date, and freeze for up to 3 months.

When ready to serve, unwrap the flavored butter and, using a sharp knife, cut crosswise into ½-inch-thick slices, allowing one slice per steak.