Rinse, drain and pick through the beans to check for stones or debris. Soak overnight covered with 8 cups of water.
Drain, rinse and place beans in a large soup pot. Cover with 8 cups of fresh water. Add the carrots, onion, celery, bay leaves, garlic and serrano chile peppers. Bring to a boil then reduce to a simmer and cook uncovered for 1 1/2 to 2 hours, or until thickened and creamy. Do not allow to boil.