In a medium skillet over low heat, cook the bacon, stirring occasionally, until crisp, about 8 minutes. Using a slotted spoon, transfer the bacon to a paper towel-lined plate and reserve the bacon fat. Add enough peanut oil to the reserved bacon fat to make 1 1/2 tablespoons.) Reserve the skillet and fat.
In a medium bowl, toss the shrimp with flour until lightly coated. Heat the reserved skillet and fat over medium-high; cook shrimp until they begin to turn pink, about 1 minute. Stir in the mushrooms and reserved bacon; cook 1 minute. Stir in the garlic clove (do not let brown), about 30 seconds. Remove from the heat and stir in the lemon juice, hot sauce, and scallions. Serve immediately over cooked grits.
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Recipe courtesy of Hominy Grill