Then he prepared to go; he had few clothes on, and only a short sword; no other arms. He jumped from a rock and got down to the fall. The priest saw the soles of his feet, but after that did not know what had become of him.
Grettir dived beneath the fall. It was very difficult swimming because of the currents, and he had to dive to the bottom to get behind the pouring wall of water. There was a rock where he came up, and a great cave behind the fall in front of which the water streamed down.
He went into the cave, where there was a large fire burning, and a horrible great giant, most fearful to behold, sitting before it.
As Grettir entered the giant sprang up, seized a halberd and struck at him, for he could both strike and thrust with it. It had a wooden shaft and was of the kind called "heptis-ax." Grettir struck back with his sword and cut through the shaft.
Then the giant tried to reach up backwards to a sword which was hanging in the cave, and at that
moment Grettir struck at him and cut open his lower breast and stomach so that all his entrails fell out into the river and floated down the stream.
The priest, who was sitting by the rope, saw the water all thickened and bloody and lost his head, making sure that Grettir was killed. He left the rope and ran off home, where he arrived in the evening and told them for certain Grettir was dead, and said it was a great misfortune to have lost such a man.
Grettir struck few more blows at the giant before he was dead. He then entered the cave, kindled a light and explored. It is not told how much treasure he found there, but there is said to have been some. He stayed there till late into the night, and found the bones of two men which he carried away in a skin.
Then he came out of the cave, swam to the rope and shook it, thinking the priest was there; finding him gone he had to climb up the rope hand over hand, and so reached the top.
He returned to Eyjardalsa and carried the skin with the bones in it into the vestibule of the church, together with a rune-staff, upon which were most beautifully carved the following lines: