Cook the bacon in a skillet over medium heat until crispy, then drain excess fat and crumble into small pieces.
Finely chop the jalapenos, removing seeds if you prefer less heat, and set aside.
In a large mixing bowl, combine the shredded cheese, crumbled bacon, chopped jalapenos, cooked rice or bread crumbs, salt, and olive oil. Mix thoroughly until all ingredients are evenly distributed and the mixture is cohesive.
Using your hands, shape the mixture into small, uniform balls, about 1 to 1.5 inches in diameter. Place them on a baking sheet lined with parchment paper.
Preheat your oven to 375°F (190°C). Once heated, bake the cheese balls for about 15 minutes, or until golden brown and bubbly on the outside.
Remove from the oven and let them cool for a few minutes. Serve warm, enjoying the crispy exterior and melty interior that bursts with flavor in every bite.