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Step 1
In a 2-quart saucepan, combine water and salt and bring to a boil. While whisking, sprinkle in grits, then return to a boil. Reduce heat to low, cover, and cook, whisking and scraping bottom well every 2 to 3 minutes, until you reach your desired consistency: runny with some remaining gritty texture, about 30 minutes; thick and creamy but flowing, about 45 minutes; or stiff and able to hold its shape while barely flowing, about 1 hour. Whisk in extra water, a tablespoon or two at a time, at any point if your grits become thicker than you'd like. (If your grits are fully cooked but too thin, you can speed up the thickening by cooking them uncovered, which will allow steam to escape more quickly.)
Step 2
Whisk in butter until fully melted and incorporated, then remove from heat. Season with additional salt, if needed.
Step 3
Serve as desired.