1. Cook the bacon in a large heavy pot over medium heat until it is crisp and golden. Use a slotted spoon to transfer the bacon to a paper towel–lined plate, leaving about 2 tablespoons of the bacon fat in the pot.

2. Add the butter to the pot. Once melted, stir in the diced onion and jalapenos. Cook for 5–7 minutes, stirring often, until the onion is soft and translucent and the jalapenos are fragrant.

3. Add the minced garlic and smoked paprika. Cook for 30 seconds to 1 minute, just until the garlic loses its raw smell.

4. Stir in the cubed potatoes, tossing them with the aromatics. Pour in the chicken broth and scrape up any browned bits on the bottom of the pot. Bring the soup to a gentle boil, then reduce the heat and simmer for 12–15 minutes, or until the potatoes are fork-tender.

5. Lower the heat to medium-low. Add the cream cheese cubes and stir until they melt completely into the broth and the soup looks creamy.

6. Pour in the heavy cream and stir to combine. Let the soup heat gently until steaming, but do not let it boil hard.

7. Add 2 cups of the shredded cheddar cheese a handful at a time, stirring after each addition until the cheese is fully melted and the soup is smooth and velvety.

8. Stir in most of the cooked bacon and most of the sliced green onions, reserving some of each for topping. Season the soup with salt and black pepper, tasting and adjusting as needed.

9. If the soup is too thick for your liking, thin it with a splash or two of extra broth or cream. If you’d like it thicker, let it simmer for a few more minutes, stirring often so it doesn’t stick.

10. Ladle the soup into bowls and top with the remaining cheddar cheese, reserved bacon, extra green onions, and fresh jalapeno slices. Serve hot and enjoy.