Peanut Butter Bacon Cupcake

INGREDIENTS

• 1 (1 pound) package bacon
• 1/2 cup crunchy peanut butter
• 1/4 cup bacon grease
• 1/4 cup butter, softened
• 4 eggs
• 1 (18.25 ounce) package butter cake mix
• 2/3 cup water
• 2 cups creamy peanut butter
• 2 (8 ounce) packages cream cheese, at room temperature
• 5 cups confectioners' sugar
• 1/4 cup heavy cream, as needed
• 22 whole peanuts