Peel and dice the potatoes, chop the onion, and mince the garlic.

Cook and crumble the bacon for garnish, and slice the green onions.

In a large pot, sauté the chopped onion until softened, then add the minced garlic and dried thyme, cooking for another minute until fragrant.

Add the diced potatoes and chicken or vegetable broth to the pot, bringing the mixture to a boil before reducing heat and simmering for 15-20 minutes until the potatoes are tender.

Using an immersion blender or a regular blender, carefully purée about half of the soup to create a creamy texture while leaving some potato chunks.

Stir in the heavy cream, shredded cheddar cheese, salt, and black pepper, and cook until the cheese is melted and the soup is heated through.

Ladle the hot soup into bowls and garnish each serving with crumbled bacon and sliced green onions.