Combine 2 quarts water, cheese rinds, and bay leaf in a large pot and bring to a boil over medium-low heat, stirring frequently to keep rinds from sticking to pot.
Reduce heat to a simmer and cook, stirring occasionally, until the broth has a nutty, creamy flavor, about 1 1/2 hours.
Strain broth through a fine mesh strainer into an airtight container; let cool. Cover and keep refrigerated for up to 1 week, or freeze for up to 3 months.