Heat a large pot or skillet over medium and add bacon. Cook, stirring occasionally, until the bacon is crispy. Set cooked bacon aside on a plate, reserving 2 tablespoons of fat in the pot.
Add butter and flour to the reserved bacon fat and stir over medium heat for 2 minutes.
Add cream, milk, mustard powder, salt & pepper to pot. Stir until the sauce begins to thicken.
Remove the pot from heat and add the shredded cheese. Stir until the cheese is melted and the sauce is creamy.
Add cooked bacon and cooked macaroni to sauce and stir to combine. Serve immediately.
Notes
This recipe yields a very saucy mac & cheese. Add more macaroni noodles if you prefer less sauce.