Cook the bacon in a large pot over medium heat until crispy. Remove and set aside, reserving 2 tablespoons of bacon fat.

Add the jalapeños, onion, and garlic to the pot with the reserved bacon fat. Sauté until softened, about 5-7 minutes.

Stir in the butter and flour, cooking for 1-2 minutes to form a roux.

Gradually whisk in the chicken broth, ensuring no lumps form. Bring to a simmer and cook for 5 minutes.

Stir in the heavy cream, cream cheese, smoked paprika, cumin, salt, and pepper. Whisk until smooth and creamy.

Blend the bisque with an immersion blender or in batches in a countertop blender until smooth.

Garnish with bacon bits and cilantro (optional). Serve hot.