I've seen the documentation on Blu-Ray Restricted formats here but I'm looking to see if anyone has come up with an easy solution yet? Also it would be awesome if someone knows of any type of program that provides mkv compression.
A guy called Jason has released a Python script
I haven't tested it yet but I am planing on building a headless server with Ubuntu Server and installing a blu-ray drive for backing up my collection. Check it out and let us know if it works out for you.
It's available in his Github repository.
This software here claims it can make mkv files from Blu-Ray.
You'll need to follow the guide here to compile the software.
Handbrake can rip Blu-ray to Mkv. The download page is here
The project page is here
The package for trusty is is still in development (read probably buggy) but is available here
I believe there is also a command line version available called handbrake-cli
Full disclosure: I personally don't have a blu-ray drive so I haven't tested this but I've used handbrake for re-encoding other formats and found it to be fast and stable.