Begin by selecting the saute function on your Instant Pot. Coat the bottom of your Instant Pot with cooking spray. Cook your bacon until crispy to your liking. You can also chop the bacon into pieces before cooking. Remove bacon to paper towels, and leave some of the bacon grease.
Now add the potatoes to the pot, saute for another 4-5 minutes or until potatoes are slightly cooked. Set aside with crumbled bacon.
In a glass or metal bowl that can fit inside your Instant Pot (I used a pyrex glass bowl), whisk together eggs, milk, nutritional yeast (if using), salt, bell pepper, and onion. Stir in bacon and potatoes. You can also use a springform pan.
Pour 1 cup of water in the bottom of your Instant Pot. Place the Instant Pot trivet with handles facing up on top of the water. Now place your egg dish on top of the trivet. Secure the lid.
Set the Instant Pot to manual function, and cook on high pressure for 18 minutes. Use a quick release. Ensure all steam has been released before removing lid.
Serve hot and garnish with cilantro (if using). You can store recipe in the fridge for up to 5 days, or freeze for several weeks.
*Nutritional yeast has a cheesy flavor and can be found in most grocery stores.