Pour boiling water over the cashews and let them soak for 1 hour. After an hour, drain and rinse the cashews. Place the soaked cashews and water into a high-speed blender and blend until smooth and creamy. Set aside the cashew cream, as you will add this to your soup later.
Prepare a batch of tofu bacon* crumbles. Set aside for serving later.
Place your Dutch oven over medium heat and add your plant-based butter and olive oil to the pan. Once the butter has melted, add your onions, carrots, and celery and cook until the onions are translucent and everything is starting to brown. This should take about 8 to 10 minutes. Next, add in your garlic and cook until fragrant, about a minute.
Next, add potatoes, smoked paprika, thyme, salt, and pepper. Let the spices bloom and cook for about 2 minutes. Then pour in your vegetable broth and add the bay leaf.
Bring the soup to a boil, then reduce to a simmer and cook for about 20 minutes, or until the potatoes become fork-tender. Make sure to stir occasionally.
While the soup is cooking, add your cashew cream, silken tofu, nutritional yeast, and cheddar cheese to a high-speed blender and blend until smooth. Stop to scrape down the sides as needed.
After your soup has simmered for 20 minutes, remove the bay leaf and add in your liquid smoke, the creamy cashew cheese mixture, and lemon juice. Cook for another 5 minutes for the soup to come together. Stir often.
If you want a creamier soup, you can either ladle out some of the soup and blend it, and pour it back in, or use an immersion blender. I prefer a chunky potato soup, so I skip this step. Taste and adjust for seasoning. Once you are happy, serve with your desired toppings!
Storage Instructions: Store any leftovers in an airtight container in the refrigerator for up to 4 days. You can also freeze the soup in a freezer-safe container for up to 3 months. Thaw overnight in the refrigerator before reheating.
Reheating Instructions: Reheat the soup gently on the stovetop over medium-low heat, stirring occasionally and adding a splash of broth or plant-based milk to restore creaminess. If reheating from frozen, warm slowly over low heat, stirring frequently, until smooth and heated through.