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I also agree on the cold smoke. you don't want to cook it. you also might want to smoke it a couple of nights. the last belly i did with pop's cure. i smoked it 40+ hours. next time i will go longer. i was using apple pellets in the AMNPS.
I also cold smoke my bacon as I don't want it cooked twice. Many folks do hot smoke their bacon and that works too, especially if you are concerned someone might eat it without frying. I make sure to mark my packages that it is "UNCOOKED" in case I give some away.
So the bacon won't be cooked. I was thinking about this method because ambient temps are rising now (~90) and the above mentioned method takes less time, and I'd like to get it done in a day this time. This is why I was wondering about the burn time of the pellets vs sawdust.
Due to the suggestions I may try cold smoking sometime though. Maybe just do it at night or wait until the weather cools to avoid having to put ice in the smoker.
Around 18 hours of hickory smoke from the AMNPS using sawdust. Stayed between 100-120 degrees. Ending IT was around 130 if I remember right. No problem with fat rendering.