Chop 2 slices thick cut bacon fine. Heat a small skillet over medium-high heat and add chopped bacon. Cook until the bacon is browned and crisp, about 5-6 minutes. Transfer the bacon from the skillet with a slotted spoon to a plate lined with paper towel. Set aside the grease remaining in the skillet.
Pop 1/2 cup popcorn kernels via your favorite method (I use an air popper). Pour the reserved bacon grease evenly over the popcorn and toss until it's evenly distributed throughout the popcorn. Sprinkle the popcorn with the cooked bacon, 1/2 teaspoon salt, and 1/4 teaspoon smoked paprika.
Notes
You can skip cooking the bacon if you already have bacon grease saved in the fridge. If you do, simply measure 2 Tablespoons of bacon grease and melt on high heat in 30 second intervals in the microwave, about 1 minute. Follow the recipe from step 2. Note that you will not have fresh bacon bits to add to your popcorn using this method.