Add chopped bacon to a large pot or Dutch oven.

Cook the bacon on medium heat for about 15 minutes or until the bacon starts to get crispy, and the grease is foaming.

Drain bacon using a colander placed over a bowl. Save the drained fat for later. You can pat the bacon with paper towels to remove any excess grease.

To the same pot, add two teaspoons of the reserved to bacon fat and return to medium heat. Add onion and salt, then sauté for about 10 minutes, stirring frequently until the onions are completely softened and starting to turn a golden brown color.

While onions sauté, place the cooled bacon on a cutting board. Chop into small bits, less than 1/2 inch in width.

To cooked onions in the pot, add brown sugar, apple cider vinegar, maple syrup, dried thyme, black pepper, and a pinch of cayenne pepper. Add chopped bacon back as well and then stir until combined.

Add balsamic vinegar. Cook on low-medium heat for 10-15 minutes until the mixture is "brick-brown" in color, has reduced and and is thick in texture.

Remove from heat and allow to cool before packaging and storing.