Let’s get the ball rolling by prepping our ingredients. Peel your Yukon gold potatoes, cut them into 1-inch chunks, and dice the onion finely. Mince your garlic. It helps to have everything measured out before you dive in.

In a large pot, heat the chopped bacon over medium heat. Sauté until it becomes crispy and golden, then remove it from the pot, leaving the drippings behind. Trust me, those drippings are flavor gold.

In the same pot, add butter. Once it melts and bubbles, toss in your diced onion. Sauté until the onion becomes translucent and soft, about 5 minutes. Then, add in the minced garlic. Sauté for another minute, inhaling that incredible aroma.

Sprinkle the flour into the pot. Stir constantly for about a minute to cook the flour without letting it brown. This step is essential for achieving that velvety texture.

Slowly pour in the chicken stock. Stir as you do this to incorporate the flour and prevent lumps. Once it’s well mixed, add the potatoes, salt, pepper, and both chili powders. Bring this to a gentle boil.

Once boiling, reduce the heat and let it simmer for about 15-20 minutes until the potatoes are tender. You want them to be soft enough to fall apart when you poke them with a fork.

Once the potatoes are cooked, you can blend the soup for a smoother texture. You can use an immersion blender or transfer it in batches to a countertop mixer. After blending, return the pot to low heat, then stir in the milk, cream, and thyme. Taste and adjust seasoning based on your preferences.

Stir in the sour cream for that extra creaminess. Finally, fold in the crispy bacon. If you have any leftover bacon, now’s the time to toss it in, too, for toppings.