Step 1

In a large skillet, bring clams and 1 cup water to a boil. Cover; cook until clams have opened, 3 to 5 minutes (discard any that do not open). Transfer clams to a bowl. Strain liquid into a measuring cup; add water to yield 1 cup. Remove clam meat from shells; coarsely chop.

Step 2

In a large saucepan, cook bacon over medium-low heat until crisp, 8 to 10 minutes. Pour off all but 1 tablespoon fat. Add onion and celery; cook until soft, about 5 minutes. Add thyme, potatoes, cooking liquid, and 1 more cup water. Bring to a boil; reduce heat, and simmer until potatoes are tender, about 20 minutes.

Step 3

Puree about 1 cup mixture in a blender until smooth. Stir puree back into soup; add cream. Simmer over low heat until warmed through, about 5 minutes. Add clams and hot sauce; season with salt and pepper.