Combine flour, baking powder, kosher salt, and butter in a food processor. Pulse until there are pea size lumps. Add cheddar cheese, bacon, and thyme leaves. Pulse for an additional 20 seconds while slowly adding milk. Once a shaggy dough forms, stop.
Turn dough onto a floured work surface and cut dough into 4 pieces. Pile 4 pieces on top of each other and then use a dough roller to flatten into a 1 inch thick rectangle.
Cut 10-12 biscuits out of the dough and add to a parchment lined baking sheet. If you have additional dough from scraps, smoosh them together and flatten to make more biscuits! Freeze for 20 minutes. Brush with butter and bake for 20-25 minutes.