Preheat oven to 250°F. Cut each bacon slice crosswise into thirds (to make a total of 24 pieces). Wrap 1 bacon piece around narrow center of each cracker without overlapping ends. Arrange in a single layer, seam side down, on a lightly greased wire rack set in a rimmed baking sheet.
Bake in preheated oven until bacon is crisp and center edges have pulled in to resemble a bow tie, about 1 hour and 30 minutes. Cool on wire rack 5 minutes before serving.