In a high-powered blender, add the eggs, cottage cheese, Monterey Jack cheese, Gruyère cheese, salt, pepper, garlic powder, and cayenne pepper (if using). Blend on medium-high until very smooth.
Evenly distribute the bacon bits in the bottom of each egg bite mold, then divide the egg mixture between each cavity.
Pour 1 cup of water into the Instant Pot, then place the wire trivet over the water. Place the lid on top of the egg mold and transfer to the Instant Pot on top of the trivet. Secure the lid and make sure the vent is closed. Press the 'steam' button and set the timer for 10 minutes.
When the cook time is complete, carefully turn the valve to release the pressure. Once all the steam has released, carefully open the lid and using a sturdy spatula, remove the egg bites from the Instant Pot.
Let cool, uncovered, for 10 minutes. To remove the egg bites from the mold, loosen the edges with a mini silicone spatula or butter knife, then invert the mold onto a cutting board.