Prepare the scallops by ensuring they’re dry. You can pat them gently with paper towels. Excess moisture can prevent the bacon from crisping up properly.
In a small bowl, combine the paprika, garlic powder, salt, and black pepper. Season both sides of the scallops with this mixture.
Take each slice of bacon and cut it in half. Wrap each half-slice of bacon around a scallop and secure it with a toothpick, ensuring the bacon fully covers the scallop. This will create a spiral pattern.
In a skillet, heat the olive oil and butter over medium-high heat until the butter foams.
Place the bacon-wrapped scallops in the skillet, making sure the bacon seam side is down. Sear for about 2-3 minutes on each side, or until the bacon is crispy and the scallops are opaque in the center. This should take about 6-8 minutes in total, depending on the size of the scallops.
Garnish with chopped fresh parsley or chives for a burst of color and flavor. Serve the bacon-wrapped scallops hot with lemon wedges on the side for a zesty kick or with your favorite side dish.