Preheat smoker to 250° F.
Wash Brussels sprouts, cut off the end and remove loose leaves. Cut in half or quarter, depending on how big they are. Keep them all the same size so they cook evenly. Place them in a mixing bowl.
Drizzle the sprouts with olive oil and sprinkle with salt and pepper. Toss to coat.
Spread Brussels sprouts evenly on a sheet pan, oven-proof veggie tray, or disposable foil pan.
Place the pan in the smoker for 50 minutes to an hour. They are done when they are fork tender.
While the Brussels sprouts are smoking, cook the bacon and crumble into small pieces. Set aside for later.
Remove the sprouts from the smoker and transfer them to a serving bowl. Toss with butter and crumbled bacon.