In the bowl of a stand mixer, beat the cream cheese until smooth. Add the shredded cheddar cheese and mix until just combined. Add the garlic powder, worcestershire sauce, bacon, green onions, and hot sauce. Mix until well combined combined.
Spoon cheese mixture onto a large sheet of plastic wrap and form into a ball. Wrap cheese ball in plastic wrap and chill for at least one hour.
When ready to serve, remove the cheese ball from the refrigerator. Place chopped pretzels on a plate. Unwrap cheese ball and gently roll in pretzels, coating well. Place on a serving plate and serve with crackers.
Note-the cheese ball will keep in the refrigerator for up to 2 weeks. If you are going to keep it in the fridge for that long, wait to add the pretzels until ready to serve so they don't get soggy.