Place bacon in a 2-quart pot. Cook over medium-high heat, turning occasionally, until evenly browned, 5 to 7 minutes. Remove some bacon grease, as needed, to keep from boiling the bacon. Drain bacon slices on paper towels.

Add onion to the pot; saute in the remaining bacon grease until translucent, about 5 minutes. Add chopped jalapeno; saute until starting to soften, about 2 minutes.

Add the bacon, pinto beans, tomatoes, water, green onion, cilantro, salt, garlic powder, and chipotle to the onion mixture. Bring to a slow boil; reduce heat to medium. Cook, stirring occasionally, until mixture is hot and flavors meld, about 15 minutes.