In a large Dutch oven or soup pot, cook the chopped turkey bacon over medium heat until crispy. Remove and place on a paper towel-lined plate, leaving about 1 tablespoon of drippings in the pot.
Add the onion and diced jalapeños. Cook for 3–5 minutes until softened. Stir in the garlic and cook for another minute.
Pour in the chicken broth and scrape up any browned bits from the bottom of the pot. Bring to a gentle simmer.
Add the cubed cream cheese and stir until nearly melted.
Stir in the heavy cream, shredded cheddar cheese, and smoked paprika. Continue stirring until the cheese melts completely and the soup becomes smooth and creamy.
Season with salt and black pepper to taste.
Simmer uncovered for 10–15 minutes, stirring occasionally, until slightly thickened. This Spicy Jalapeño Popper Soup develops even richer flavor as it simmers.
Meanwhile, butter one side of each bread slice. Fill with shredded cheddar and assemble sandwiches with buttered sides facing outward.
Cook on a skillet over medium heat for 2–3 minutes per side until golden brown and the cheese is melted.
Cool slightly before slicing into strips.
Ladle the soup into bowls and garnish with crispy turkey bacon and fresh chives or green onions.
Serve immediately with warm grilled cheese dippers.