Follow these steps to bring this comforting dish to life:

1. In a large pot or Dutch oven, cook the bacon over medium heat until crispy. Remove with a slotted spoon and set aside, leaving the bacon fat in the pot.
2. Add olive oil to the pot, followed by the diced onion. Sauté until the onion becomes translucent, about 5 minutes.
3. Stir in the garlic and cook for another minute until fragrant.
4. Pour in the chicken broth and bring to a simmer. Add the gnocchi and cook for about 3 minutes, or until they float to the surface.
5. Reduce the heat and stir in the heavy cream, shredded cheddar cheese, and thyme. Stir continuously until the cheese has melted and the soup is creamy.
6. Season with salt and pepper to taste, then add the baby spinach. Stir until the spinach is wilted.
7. Return the bacon to the pot, giving it a good stir to combine all the flavors.

From my own experience, I like to keep an eye on the cheese, ensuring it melts smoothly into the soup without clumping. The aroma filling the kitchen is usually a sign that the soup is ready to be enjoyed!