Grease a silicone egg bite mold with butter or olive oil.
Stack the bacon slices and cut them in half. Place 2 pieces of bacon side-by-side into the bottom of the mold, curving up the sides.
Blend the eggs, cheese, cream, 2 tablespoons (29 ml) water, sea salt, and black pepper in a blender at high speed, until smooth and a bit frothy. (Alternatively, you can use a hand mixer in a bowl.)
Pour the egg mixture evenly into the molds. Cover the mold tray tightly with foil.
Pour 1 cup (236 ml) of water into the Instant Pot and place the trivet with handles inside. Carefully place the egg bite mold onto the trivet. Close the lid, set the steam valve to Seal, press the Manual button, and set the time to 9 minutes at High pressure.
When time is up, wait for 5 minutes of natural steam release, then flip the valve to do a Quick Release for any remaining pressure.
Use oven mitts to lift the trivet out of the pressure cooker. Remove the foil and allow them to cool for 5 minutes (they will shrink), then flip the mold over a plate and pop out.