He perceived that breath is Brahman, for from breath these beings are born; by breath, when born, they live; into breath they enter at their death. Having perceived this, he went again to his father Varuna, saying: 'Sir, teach me Brahman.' He said to him: 'Try to know Brahman by penance, for penance is (the means of knowing) Brahman.' He performed penance. Having performed penance—

In plain words: Next Bhrigu decides breath is Brahman, since beings come from breath, live by it and return to it. Again Varuna tells him to keep seeking through discipline. Bhrigu goes back to work.