In a large pot or Dutch oven over medium heat, fry the bacon pieces until crispy. Transfer to a plate lined with paper towels. Drain off fat from pot, leaving 1 Tablespoon.
Add shrimp to the pot and cook until pink (about 3-4 minutes), stirring frequently. Remove shrimp with a slotted spoon and transfer to a bowl. Set aside. Leave juices in pot.
Add onions and garlic. Saute for about 3 minutes, or until onions are soft and translucent.
Add paprika, crushed red pepper, thyme, salt and pepper. Cook, stirring often for 2 minutes.
Add corn, chicken stock, half and half, heavy cream, and white wine. Stir to combine. Bring to a boil. Reduce heat to medium-low and simmer for 15 minutes.
Using an immersion blender, blend about half of the soup until creamy. If you don't have an immersion blender, blend 2 cups of soup in a blender and pulse until creamy (exercise caution while blending hot liquids - blend small amounts at a time and hold down the top of the blender pitcher while blending because there is a risk of the to blowing off and hot liquids to blow out!) and return to pot and stir well.
Serve with shrimp and sprinkle with bacon pieces.
Garnish with fresh thyme springs, if desired.