Blend the onion, green chiles, garlic, and lime juice together in a food processor until smooth; add the cilantro and pulse until the cilantro is finely chopped into the mixture.
Bring the water to boil in a saucepan. Stir the cilantro mixture, chicken bouillon granules, salt, butter, and rice into the water and return to a boil; reduce heat to medium-low and cover. Simmer until the rice has absorbed the liquid entirely, about 20 minutes.
