Heat a large soup pot over medium heat. Add bacon and cook, stirring occasionally, until the bacon becomes crispy, around 4-5 minutes. Remove bacon with a slotted spoon and transfer to a plate lined with paper towels. Blot off excess grease and set aside.

Drain and discard all but 2 tablespoons of bacon grease from pot before adding onion, carrots, and garlic. Season with salt and black pepper, to taste, and sauté until soft, around 4-5 minutes. Sprinkle with flour and cook for another minute, stirring frequently.

Add the clam juice, milk, and heavy cream, and whisk until combined. Add the potatoes, Old Bay seasoning, fresh thyme and 2/3 of the cooked bacon crumbles. Season with additional salt and black pepper, if desired, and stir to combine.

Once the potatoes are cooked, add clams and stir to combine. Continue cooking for 2-3 minutes, or until the clams are heated through. Taste and adjust seasonings, as desired. Remove from heat and serve immediately topped with remaining bacon crumbles and fresh parsley, if desired. Enjoy!