Stormbreaker came into creation following the fight between Thor and Beta Ray Bill at Skartheim. After the battle, Bill began to feel guilt over his victory, now feeling that Mjolnir was Thor's by right. In a compromise, as Bill fairly won the battle, Odin had the Dwarves of Nidavellir create a new hammer made for the cyborg Korbonite warrior, crafted from the same Uru metal as Mjolnir. With the assistance of Eitri and other dwarf blacksmiths, they forged Stormbreaker.
Following a battle against Surtur's demon army, Odin then bestowed upon it another enchantment: by striking the hammer down on the ground, Bill was able to return to his true, mortal Korbinite self. This in turn took away the '60 second rule' from Mjolnir, though it is never made quite clear if Stormbreaker has the same rule as well.
For a brief period of time, Stormbreaker and Bill became endowed with cosmic powers, given to them by the Silver Surfer, as a means to save Bill's life. This physically changed the hammer's appearance to that of an axe-like weapon with a hole in the center. This outside power source was necessary, for Yggdrasill was failing at the time, and the power of the Odinforce would not be around to sustain Bill's powers in the near future. Under unknown circumstances, both Bill and Stormbreaker returned to their normal, Odinpowered appearances sometime later.
When Beta Ray Bill was captured by the Skrulls, they separated Stormbreaker into two, axe-like halves as weapon for the Super-Skrull that was sent to kill the gods of Asgard. How the Skrulls were able to circumvent the worthiness is still a mystery, but the Skrull was able to reforge the halves back into one whole weapon, hurling it towards the town of Broxton in an attempt to destroy it. After catching the hammer mere moments before it could hit the town, Thor returned Stormbreaker to its rightful once again.
During a conflict between Beta Ray Bill and Thor, who had been turned into an Herald of Galactus, Bill prevented Mjolnir from returning to its bearer's hand. Seeing no options to reach an agreement, Thor called Stormbreaker and destroyed it by hitting it against Mjolnir.
- Worthiness: Just like the original Mjolnir, no one can lift Stormbreaker who is not worthy. After the founding of New Korbin, there was a line of aliens and Korbinites all attempting to lift Stormbreaker. When asked what was going on Beta Ray Bill said, "It is the will of my people. Once we settled this world there was no longer the need for a protector. Exception was taken to the godly power I possessed. Such is gratitude. So I gave in to the will of the masses, and surrendered my hammer to the populace. Now Stormbreaker is offered to anyone worthy of its enchantment. That's how it works, you know. They line up every day, each believing himself to be the one who will lift the hammer". The Lady Sif then asks "But none ever has?" and Bill replies "No. But they keep trying." Gladiator later attempted to hold Stormbreaker, but was unable to do so.
- Power of Recall: When Bill throws the hammer, it returns to his hand with irresistible force. In the same way, he can summon it to himself even if it has not been thrown.
- Transformation: By stamping Stormbreaker Beta Ray Bill can revert to his mortal human form, Simon Walters, dressed in whichever clothes he last wore in that form. Then, by stamping his fist, Bill turns back into his superhuman form, and he has the hammer.
- Force Projection: Being a hammer, Stormbreaker can be used as a blunt force melee weapon or as a throwing weapon. It appears that Stormbreaker has the same attributes as Mjolnir, and it can absorb, magnify, and return almost any type of force. By itself, the hammer can create ground tremors, when struck against the ground, or whirlwinds, when swung around.
- Flight: By throwing Stormbreaker and gripping its strap, Beta Ray Bill can fly.
- Energy Manipulation: He can also use it to project powerful concussive blasts of mystical energy. It magically enables the Bill to survive the adverse conditions of outer space, including its lack of oxygen. He can also use it to absorb any energies from external sources or from other energy beings. 
- Weather Manipulation: Just like Thor he could manipulate the weather, summoning powerful lightning and storms powerful to block out the sun and injure Fenris the Wolf.
- Portal Creation: When swung at a particular pitch the hammer can open a portal to any desired dimension, such as Asgard.
- Energy Sensing: The hammer can detect most types of energy. It reacts particularly strongly to evil psychic energy.
Alternate Reality Versions
|in Earth-14412, in the far future, Stormbreaker is wielded by Frigg Wodendottir.||Thor: God of Thunder #22|
|In Earth-199999, Stormbreaker was constructed by Eitri as a replacement for Mjolnir. Its head broke in half when freed from the mold and the handle was not successfully constructed or available, but the handle was replaced and the head pieces reattached by Groot sacrificing his left arm. The Asgardian weapon is nigh-indestructible, capable of summoning the Bifrost and is able to withstand energy blasts created by the Infinity Stones. Thor used Stormbreaker to defend his forces against the attacks from the Outriders, Chitauri, and Thanos.||Avengers: Infinity War|
|In Earth-TRN562, Iron Man helped the Dwarves of Nidavellir craft Stormbreaker.||Marvel Avengers Academy|
- 173 appearance(s) of Stormbreaker
- 11 minor appearance(s) of Stormbreaker
- 10 mention(s) of Stormbreaker
- 171 image(s) of Stormbreaker