Preheat the oven to 425 F.
Prepare a baking sheet by lining it with foil or a wire baking rack. Place bacon strips onto the prepared baking sheet.
Toss frozen tots in olive oil and a pinch of salt. Spray a large, rimmed baking sheet (separate from the one with the bacon) with baking spray. Spread the tots across this baking sheet.
Bake the tots and bacon at 425 F. Once the bacon is crispy (about 13-15 minutes), remove it from the oven and transfer to a plate lined with a paper towel to cool. Continue baking tots according to the package directions, or about another 7-8 minutes until browned and crispy.
While the tots finish baking, melt the butter over low heat in a small sauté pan. Add the hot sauce and combine with the butter. Stir in garlic powder and freshly cracked black pepper, and turn off the heat.
Toss the cooked tots in the buttered buffalo sauce. Once the tots are evenly coated, transfer them to an oven-safe baking dish. Bake for 2-3 minutes in the oven to re-crisp them.
Carefully remove them from the oven, and cover them with shredded cheese. Place back in the oven until cheese is melted, about 5 minutes. Go ahead and chop the bacon while the cheese melts.
Top with ranch, chopped bacon, green onion, blue cheese crumbles, and pickled red onion (all optional!), and serve hot!