Set your instant pot to saute and cook the bacon pieces. Hit cancel.
Drain the fat and reserve the cooked bacon in a bowl.
Place the whole potatoes, chicken broth, salt, and pepper in the bowl of the Instant Pot. Cover with the lid and set it to soup for 10 minutes.
Once complete, quick pressure release. Unplug the instant pot.
Using an emulsion blender or potato masher, blend up the potatoes and broth until only a few chunks are left.
Plug the instant pot back in and select saute. Whisk in the cream cheese and half and half. Cook, mixing regularly, until the cream cheese is completely melted. This should take about 10 minutes.
Mix in 1/2 of the cooked bacon.
Serve with cheddar cheese, green onions, and remaining bacon.