How to Make It
Process 4 1/2 cups water and 1 cup corn in a blender until smooth, about 1 minute. Pour through a fine wire-mesh strainer into a large measuring cup; discard solids. Add water, if necessary, to equal 4 1/2 cups. Transfer to a saucepan; bring to a simmer over medium-high. Reduce heat to low.
Heat olive oil in a Dutch oven over medium-high. Add mushrooms, onion, and remaining 1 cup corn. Cook, stirring often, until onions are translucent, 4 to 5 minutes. Add rice, garlic, and 2 teaspoons thyme. Cook, stirring constantly, until rice is toasted, 1 to 2 minutes. Add wine; bring to a boil, and cook, stirring occasionally, until liquid is almost evaporated.
Stir in 2 cups corn broth; reduce heat to medium-low, and cook, stirring often, until broth is almost absorbed, about 10 minutes. Add 1 cup corn broth, and cook, stirring often, 5 minutes. Repeat with 1 cup corn broth. Remove from heat. Stir in 1/4 cup cheese, butter, salt, and remaining 1/2 cup corn broth. Divide among 4 bowls; top evenly with pine nuts, remaining 2 teaspoons thyme, and remaining 1/4 cup cheese.