Turn on a multi-functional pressure cooker (such as Instant Pot®) and select Saute function. Add bacon, oregano, and garlic; cook until bacon is crisp, about 5 minutes. Add Brussels sprouts, onions, mushrooms, beets, butternut squash, bell pepper, paprika, chili powder, salt, and pepper. Cook until vegetables start to soften, 5 to 10 minutes. Pour in beer and braise for 5 minutes. Pour in beef broth and cream.

Close and lock the lid. Select Soup setting according to manufacturer's instructions; set timer for 15 minutes. Allow 10 to 15 minutes for pressure to build.

Release pressure carefully using the quick-release method according to manufacturer's instructions, about 5 minutes. Unlock and remove the lid. Stir in kale and adjust seasoning to taste.