Preheat the oven to 400 degrees with a rack in the center position.
Line a sheet pan with parchment paper, and lay the strips of bacon side by side on the pan.
Bake the bacon until it starts to crisp up, about 10 minutes.
While the bacon cooks, make the biscuit dough:
Whisk together the flour, baking powder, baking soda, sugar and salt in a bowl and then dump it into a food processor (you can also do by hand, but the food processor is sooooo much easier and quicker).
Add the (extreeeeeeemely cold) butter to the food processor and pulse until the flour is the consistency of small pebbles.
Through the feed tube, with the food processor running, add the buttermilk, and mix ONLY until the mixture comes together in a ball. DO NOT OVERMIX. Overmixing (and overhandling the dough) will make dense biscuits.
Lightly flour a work surface (I use a big piece of parchment paper on the countertop), dump the dough out onto the surface and gently pat it into a 1-inch slab.
Use a 2 1/2-inch biscuit cutter to cut out as many biscuits as you can, verrrrrrry gently patting the dough back together as needed to make a new slab for cutting. My last biscuit is generally formed by hand.
When the bacon has cooked the first 10 minutes, remove the pan from the oven, flip each slice over and arrange them in rows to make room for the biscuits. Place the biscuits in between the bacon rows, and then use a pastry brush (or the back of a spoon) to pick up some of the bacon grease and brush it on top of the biscuits.
Return the pan to the oven to bake for about 15 to 20 more minutes, or until the biscuit tops are nice and golden (I removed the bacon after 5 minutes – I like it limp).