Heat a large pot of water to boil for pasta, salt water and cook pasta 1 minute shy of package directions. Reserve ½ cup salty boiling water just before draining.
While pasta cooks, heat a large skillet over medium-high heat with EVOO, add bacon and render, then remove. Add mushrooms to drippings and brown, then add shallot, garlic and asparagus, season with salt, pepper and thyme, and sauté 3 minutes more. Add wine to pan and add bacon back to pan.