Prep: wash potatoes and dice into small bite-sized pieces, chop yellow onion, clean and slice green onions, cook bacon and chop into bits
In a soup pot or Dutch oven, add 1 tbsp of bacon dripping and 2 tbsps. butter. Over medium to high heat, melt the butter and add the chopped yellow onion. Sauté until translucent.
Slowly add the chicken broth, whisking to thicken and remove lumps. Next, add in the milk, continuing to whisk to blend.
Add in the potatoes, salt, and pepper. Bring to a boil, reduce the heat, and cook for 20 minutes.
Once the potatoes are fork-tender, use an immersion blender to break down some of them. Next, add in the heavy cream and cheddar cheese. Stir until the cheese melts and blends in evenly.
Serve with green onions, bacon bits, and a sprinkle of cheddar cheese on top.