Cook the chopped bacon in a large Dutch oven over medium-high heat for about 8 minutes, until crispy; transfer bacon to paper towels, leaving the fat in the pot.

Add ground beef to the bacon fat and cook over medium heat for 10 minutes, breaking it apart, until deeply browned; remove and set aside.

In batches, brown the beef chuck cubes in the same pot over medium-high heat for about 12 minutes total, ensuring all sides are seared; transfer to a bowl.

Add diced onions to the pot and cook over medium heat for 8 minutes, until soft and lightly charred; stir in minced garlic and cook for 1 minute.

Stir in chili powder, cumin, smoked paprika, oregano, cayenne, and black pepper and cook for 2 minutes to bloom the spices.

Mix in tomato paste and cook for 2 minutes; stir in crushed tomatoes and beef broth, scraping up browned bits from the bottom.

Add kidney beans, black beans, pinto beans, Worcestershire sauce, hot sauce, salt, sugar, and return the cooked beef and bacon to the pot; stir to combine.

Bring to a gentle simmer, then reduce heat to low, partially cover, and cook for 60 to 90 minutes, stirring occasionally to prevent sticking.

Taste and adjust seasoning with additional salt, cayenne, or hot sauce before serving.