In a 1-quart saucepot over medium heat, fry the bacon until crisp, 8 to 10 minutes. Remove the bacon and pour off all but 1 tablespoon of the bacon grease.
Return the pot to the heat, add the stock and bring it to a boil, about 2 minutes. Slowly whisk in the grits and cook, stirring, until thick, 4 to 5 minutes.
Meanwhile, melt the butter in a nonstick skillet. Add the eggs and fry until the whites are set but the yolks are still soft, 3 to 5 minutes, or longer, depending how you like your eggs. Season with salt and pepper.
Once the grits are thick, fold in 1/2 cup of the Cheddar cheese. Stir to allow the cheese to melt into the grits, then season to taste with salt, pepper and hot sauce.
Divide the grits between 2 bowls and divide the remaining 1/4 cup Cheddar between them as well. Top each with 2 fried eggs and half of the chopped bacon. Finish with the sliced green onions. Dig in.