The hammer of Skadi was personally given to Skadi, the only child of Cul, the Serpent. Skadi was the Asgardian goddess of winter and following the Serpent's original defeat, he imprisoned his daughter and the rest of the Worthy inside their hammers. The Hammer of Skadi was called into the Artic following an ancient Asgardian ritual that freed the hammer from Asgard along with one of the Asgardian Frost Giants, but the Giant was defeated by the Invaders. The hammer was unable to be lifted by anyone and was hidden in a secret base for decades in Antartica until Sin, the daughter of the Red Skull was able to lift it and was transformed into the new Skadi and went on to free her father.
Following the death of the Serpent, the various hammers of the Worthy returned to their original locations on Earth, but Sin held on to her hammer allowing it be taken by Captain America and S.H.I.E.L.D. It was just a few days later that Valkyrie, determine to rid the planet of the power of the hammers attacked her teammate War Machine and took the hammer and went out to claim the rest of the hammers.