Extending the life of your grinder bits is a matter of recognising that you should not force the glass into the grinding head. Excessive pressure against the head heats the bit and allows the diamonds to become free of the binding material, so reducing its life. If the motor slows as you press the glass to the bit, you are applying too much pressure. That kind of pressure also puts a lot of wear on the bearings of the motor.
If the grinder is not taking glass off fast enough for your purposes, you should put a coarser bit on the grinder, rather than pressing harder. The bits do come in a variety of grits. Try out some different grits to find the one that works best for the speed at which you want to remove the glass.
You can also buy a additive for the water – often called a diamond coolant – which is intended to provide a kind of lubrication for the diamonds. This may also extend the life of the bit.