In a heavy-bottomed, deep saucepan, stir together the white and brown sugars, buttermilk, corn syrup, baking soda and salt. Cook over medium heat for about 20 minutes or until the mixture reaches 235 on a candy thermometer.
Meanwhile prep the remaining ingredients so you are ready to go once the mixture hits 235 degrees. Immediately remove from heat and add butter, vanilla, peanuts, peanut butter and bacon. Stir with a wooden spoon until creamy or the thickness you desire. I like my clusters to spread slightly.
Drop by teaspoonfuls onto buttered parchment paper. Let stand for 30 minutes or until cool and firm. Store in an air tight container.