Whisk together sriracha and honey in a bowl, and set aside.
In a stand mixer fitted with the hook attachment, add water, sugar, and yeast. Allow to bloom for 10 minutes so that the mixture is nice and frothy. Then add four tablespoons of honey sriracha mixture.
Turn on mixer, and add flour and butter. Mix until dough comes together. Increase speed, and knead dough for an additional five minutes, until it pulls aside from the bowl and begins to form a ball.
Place in a oiled bowl, and cover with plastic wrap. Allow to rest for one hour, or until the dough has doubled in size.
Preheat oven to 450 degrees Fahrenheit.
Flour a work surface and divide the dough into eight pieces. Cut smaller pieces from divided dough and roll into ropes of dough five inches long, and one inch thick. Tie each rope of dough into a knot and set aside.
Bring water to a boil and add baking soda. Gently lower five to six pretzel knots at a time, and remove with a spider.
Place knots on a parchment lined baking tray, and brush generously with honey/sriracha mixture, and a sprinkling of coarse salt.
Bake for 12-14 minutes or until dark golden brown. Cool for a minimum of five minutes before serving.