Trim the Brussels sprouts by removing any dry or bruised leaves and peeling away the loose outer leaves. Then cut the sprouts in half through the stem and place them in a half-sheet pan.
Heat your butter over low heat in a small skillet or cast iron pan until it simmers and becomes fragrant (usually 3-4 minutes). Be careful because it burns quickly. Set it aside and allow it to cool slightly.
In the same pan, whisk in the balsamic vinegar and honey until well combined.
Pour the honey-balsamic mixture over the Brussels sprouts in the half-sheet pan, stirring to evenly coat all the sprouts.
Preheat your smoker to 225°F (107°C).
If using bacon, place the strips directly on the smoker grates and smoke them for about 20 minutes until crispy. Remove bacon from the smoker, let it cool slightly, and then chop it into bits.
Sprinkle the smoked bacon bits over the Brussels sprouts for added flavor and crunch.
Place the sheet pan with your Brussels sprouts in the preheated smoker and smoke them at 225°F (107°C) until tender. This process usually takes 1-1½ hours. Remember to stir the sprouts once or twice during the smoking process to ensure even cooking.
Once the Brussels sprouts are cooked to your desired tenderness, remove them from the smoker and let them cool slightly.
Season with salt and pepper to taste.
Serve the smoked Brussels sprouts immediately as a delicious side dish.