Cut bacon strips into ½ inch pieces.
Cook bacon in a skillet, over medium heat until crisp. Remove bacon from the skillet with a slotted spoon and drain on a paper towel lined plate.
Reserve 3 tablespoons of the bacon fat for the cracker crumb topping.
Cut asparagus spears into 2 inch pieces, separating the tips from the stalks.
Bring a large pot of water to a boil.
Once water is boiling add asparagus stalks and cook for 2 minutes.
After two minutes add the tips and cook for another minute. Cook just until crisp tender.
Transfer asparagus to a bowl of ice water to stop the cooking.
In a large mixing bowl, combine the Cream of Mushroom soup, Worcestershire sauce, sliced mushrooms, ½ the shredded cheddar cheese and ½ the cooked bacon. Stir to combine.
Drain the asparagus and add it to the mixing bowl. Stir to combine all the ingredients.
Transfer the mixture to a greased casserole dish.
Top with remaining bacon bits and the remaining shredded cheddar cheese.
Cover and refrigerate until ready to bake.