In a large skillet, cook bacon and onion over medium heat until bacon is crisp. Drain, reserving 1/4 cup drippings in pan.

Stir in hash browns. Cook, uncovered, over medium heat until bottom is golden brown, about 10 minutes. Turn potatoes. With the back of a spoon, make 8 evenly spaced wells in potato mixture. Break 1 egg into each well. Sprinkle with salt and pepper.

Cook, covered, on low until eggs are set and potatoes are tender, about 10 minutes. Sprinkle with cheese; let stand until cheese is melted.