Rinse and soak pinto beans overnight. Drain and set aside.
In a large pot, add soaked beans and cover with water or broth. Bring to a gentle boil, then reduce to a simmer.
In a skillet over medium heat, cook diced bacon until crispy. Remove and set aside, leaving the fat in the skillet.
Add chorizo to the skillet and cook until browned, breaking it apart with a spoon. Add chopped onions, garlic, jalapeño, and cook for another 3–4 minutes until fragrant.
Stir in diced tomatoes and cumin, and cook for another 2 minutes. Optional: add beer for extra depth.
Transfer the cooked mixture to the pot with the simmering beans. Stir well to combine.
Simmer uncovered for about 1 hour, stirring occasionally, until beans are tender and the broth has thickened slightly.
Season with salt and pepper to taste.
Before serving, sprinkle fresh cilantro over the top and serve with lime wedges on the side. Enjoy!