From 2000 to 2004, Bill made sporadic appearances in the second volume of Thor - #30-33, #39-41 and #82-86 - and in 2005 featured in his own limited series, Stormbreaker: The Saga of Beta Ray Bill #1 - 6, written by Michael Avon Oeming and Daniel Berman, with art by Andrea Di Vito.
At the request of the spy organization S.H.I.E.L.D, the Thunder God Thor travels into space and finds the approaching warship, Skuttlebutt. Skuttlebutt scans Thor and recognizes his Asgardian magic as similar to that of Surtur and strikes first, assuming they are sent from the same source. Unable to stop Thor, the sentient ship awakens Bill, who battles Thor to a standstill. Separated from his hammer Mjolnir, Thor reverts back to his mortal persona of Donald Blake, and is knocked unconscious by Bill. Bill then examines Blake's cane (Mjolnir's "shell" when Thor is in Blake's form) and on striking the cane receives Thor's power and costume via Mjolnir. Once Skuttlebutt arrives on Earth, Bill easily defeats an approaching SHIELD team and is then transported to Asgard by Odin, who mistakes Bill for Thor.
After some initial confusion, Odin returns Thor to Asgard, and on discovering that Bill was worthy enough to lift Mjolnir, proposes a battle to the death in the Asgardian realm of Skartheim to decide who will wield the hammer. After a furious battle Thor and Bill knock each other unconscious. Bill's resistance to heat allows him to recover first, and he is deemed the winner. Odin, however, bestows upon Bill a different hammer — Stormbreaker — which is equal in power to Mjolnir. Odin also bestows the ability upon Bill to return to his original Korbinite form by striking Stormbreaker upon the ground. It is then determined that the mishap that killed most of Bill's people was caused by Surtur, and Bill agrees to join the Asgardians in a war to stop Surtur and his armies.
Bill goes on to lead many of Earth's heroes against Surtur's forces on Earth, while Thor, Odin and Thor's adopted brother Loki confront Surtur in Asgard. Surtur is finally stopped, but apparently kills Odin. The Asgardian goddess Sif, whom Bill comes to care about, is injured in combat but eventually recovers. Soon after this Bill bids the Asgardians farewell and leaves to reunite with his people. Bill has sporadic encounters with the heroes of Earth until the time of Ragnarök. Years later, Thor is in possession of the Odin Force and the power of the Runes and has evolved into "Endgame" form. He then brings about Ragnarök, determined to end the perpetual cycle of death and rebirth the Asgardians are trapped in. Bill aids the Asgardians in the final battle against the forces of evil, but is eventually sent away by Thor, who states that it is not Bill's destiny to die in Ragnarök.
Bill decides to return to Asgard, and en route visits his people's new home-world. Bill is attacked by his predecessor — Alpha Ray — but defeats him and then confronts Galactus and his herald Stardust, as Galactus is intent on devouring the world. Galactus devours the world and almost kills Bill, who is eventually recovered by Skuttlebutt. After finding an orb containing the souls of many of the Korbinites, Bill revisits Asgard to find it desolated. Bill joins forces with Stardust to battle a new demonic menace named Asteroth, and is mortally wounded. A mysterious figure, however, claims the remaining souls in the orb and revives Bill by placing him in the recently-deceased body of a war veteran named Simon Walters on Earth. After a brief encounter with the hero Spider-Man, Bill sets out to find a purpose for himself on Earth.
Bill then encounters the Canadian superhero team Omega Flight, and aids them against the supervillain team the Wrecking Crew, who release the supernatural Great Beasts. For a time Bill is trapped in an alternate dimension, battling the Beasts.
Bill is also one of the few beings in the universe whose nobility allows him to lift Mjolnir, and receive all the powers such a feat provides.