Drain the canned water chestnuts thoroughly and pat them dry with paper towels.

Cut each slice of bacon into thirds so the pieces wrap neatly around the chestnuts.

Wrap one piece of bacon around each water chestnut and secure it with a toothpick.

Arrange the wrapped chestnuts in a single layer on the prepared baking sheet.

Bake until the bacon begins to render fat and lightly crisp around the edges.

In a bowl, whisk together ketchup, brown sugar, soy sauce, Worcestershire sauce, garlic powder, and ginger until smooth.

Remove the partially cooked bacon wraps from the oven and brush or spoon the glaze evenly over them.

Return the tray to the oven and bake again until the bacon is fully crisp and the sauce becomes thick and glossy.

Let them rest for a few minutes so the glaze sets before transferring to a serving platter.