Well, here in Argentina (I don't know in other countries) we call "minutas" to what I've described. Then I saw Agró's post and now I don't know what the phrase is referring to. It could also be referring to what you say, so I guess we'll have to wait for some more context.
"Quemo mis horas y mi sangre" is very poetic, and so its meaning could be very sensitive to the lingüistic context, but I would say it means something close to what Dario says: "I waste my hours and my blood", or it could also mean "I spend my hours and my blood eagerly, with fury."
It seems quite literal to me to say "I burn my hours and my blood". Is there any other way of putting it, something along the lines of sitting around, waiting, becoming agitated as a result? Your blood boiling?