In a large pot, heat 2 tablespoons of olive oil over medium heat. Add 1 diced onion and sauté for 5 to 7 minutes until soft and translucent.

Stir in 3 minced garlic cloves and cook for an additional 1 minute until fragrant.

Add 4 diced russet potatoes, 4 cups of chicken or vegetable broth, 1 teaspoon of dried thyme, and 1 teaspoon of smoked paprika to the pot. Season with salt and pepper. Bring to a boil, then reduce heat and simmer for 15 to 20 minutes until potatoes are tender.

Using an immersion blender, blend the soup to desired texture.

Stir in 1 cup of heavy cream, 1 cup of sharp cheddar cheese, and ½ cup of sour cream, mixing until cheese melts and soup is velvety.

Ladle into bowls and top with crumbled bacon, extra cheddar cheese, and chopped green onions.