1. In a small bowl, mix the softened cream cheese and chopped jalapenos until well combined.
2. Spread the cream cheese mixture evenly on one side of each of the 4 slices of bread.
3. Sprinkle the crumbled bacon evenly over the cream cheese mixture.
4. Add 1/2 cup of shredded cheddar cheese over the bacon on each of the two slices.
5. Top with the remaining slices of bread, cream cheese side down, to form two sandwiches.
6. Spread the softened butter on the outer sides of each sandwich.
7. Preheat a skillet over medium heat.
8. Place the sandwiches in the skillet and cook until golden brown and the cheese has melted, about 4-5 minutes per side.
9. Carefully remove from the skillet and let them cool slightly before serving.
10. Slice each sandwich in half for easier handling.