Rinse beans and remove any debris; Put beans in a large pot covered with 8 cups of water and allow to soak for 8-12 hours.

Set the Instant Pot to sauté on high heat. Season the ground beef with ½ teaspoon salt. When hot add the teaspoon of olive oil, the ground beef and the onion, cook and stir occasionally until the ground beef is no longer pink. Turn off and drain the grease. Remove the meat mixture to a container. We will be adding it at the end of the cooking process. I usually just let it cool on the counter, but you can also put it in a container in the refrigerator during the wait time.

Deglaze the Instant Pot with 1 cup of your water. Use a wooden spoon to loosen any bits that may have gotten stuck to the bottom of the Instant Pot. Add the tomato paste, chili powder, and the green chiles and stir. Add the drained beans and the remaining 5 cups of water and stir.

Put on the lid and pressure cook on high for 25 minutes. Allow natural release at the end of cook time for 15 minutes, before carefully releasing remaining pressure.

Add the seasoning packet and stir. Stir in the ground beef and onion mixture. Stir in the salsa.

Garnish with shredded cheese, fresh cilantro, and tortilla chips.