In a large nonstick skillet, add bacon in an even layer (you’ll need to cook it in batches).
Heat over medium heat. Cook, turning occasionally, until just barely browned on both sides, about 3 to 5 minutes per batch.
Remove cooked bacon from skillet, and place on a paper towel–lined plate. When cool enough to handle, gently oll bacon slices (like a napkin ring).
Proceed with remaining bacon. Remove skillet from heat; reserve drippings in skillet.
Set oven to warm; have a sheet pan nearby. Pat scallops dry thoroughly; wrap each scallop with one slice of bacon, securing with a wooden pick, trimming excess bacon, if necessary.
Heat skillet with bacon drippings over medium-high heat. Sprinkle scallops with salt and pepper.
Add half of scallops to skillet; cook, without moving, 2 minutes. Turn scallops, add 1 tablespoon butter to skillet, and cook 2 minutes more, spooning butter mixture over scallops.
Transfer cooked scallops to sheet pan, and keep warm in the oven. Repeat with remaining scallops.
Add remaining 1 tablespoon butter to skillet; let melt, then add Chardonnay. Add thyme sprigs; let simmer 1 minute. Season with additional salt and pepper, if desired.
Divide polenta between 4 small plates; top each with three scallops. Spoon wine-butter sauce over scallops, and garnish with thyme, if desired.