Place bacon in a large cast iron or nonstick skillet and cook over medium-high heat, turning occasionally, until evenly browned, about 10 minutes. Drain bacon slices on paper towels.

Whisk together pancake mix, milk, oil, egg, and cinnamon in a bowl until smooth. Crumble 2 bacon slices into the batter, then mix the batter again.

Heat a medium-sized non-stick skillet to medium-low heat. Cut 1 of the remaining bacon slices in half, then lay the halves in the pre-heated skillet. Pour just enough batter over 1 half slice to cover it. Repeat with the other half slice of bacon.

Cook until pancakes have puffed up and bubbles have appeared. Flip and cook the other side until golden brown. Remove pancakes from the pan and repeat with remaining bacon and batter.