Crisp: In a large soup pot or dutch oven, cook chopped bacon on Level 6 (Medium) until crispy. Remove bacon to a paper towel, leaving about 2 tbsp of drippings in the pot. Sauté: Add the diced onion to the bacon fat. Sauté 3-4 minutes until soft.
Simmer: Add diced potatoes and broth. Bring to a boil, then cover and simmer on Level 4 (Medium-Low) for 15 minutes until potatoes are very soft.
Mash & Cream: Lightly mash some potatoes in the pot for thickness (or leave chunky). Stir in heavy cream and heat through.
Serve: Top with cheddar cheese and the crispy bacon bits.