Giant-Man calls an emergency meeting of the Avengers. He informs his teammates of an underground disturbance that his ants have discovered. Thor is insulted that he would be brought in for such a ludicrous request and leaves. Hank becomes increasingly angry that the Avengers won't take him seriously and tells them to leave.
He sets out to investigate the cause of the disturbance by himself. He soon discovers that the Mole Man survived his last encounter with the Fantastic Four (Fantastic Four #31) and has created an atomic gyroscope that can control the speed of the Earth's rotation. Giant Man is soon captured by the Mole Man and his subterranean army.
Soon the world begins to feel the effects of the Mole Man's machine. The Avengers - embarrassed by their poor treatment of a teammate – set out to find Giant Man and stop the seismic disturbances. They send a probe to the center of the Earth and learn that the Mole Man is still active. This does not go unnoticed by the Mole Man who sends a squadron to Avengers' headquarters. The Subterraneans mysteriously vanish, allowing the Avengers to focus their efforts on constructing a device to take them to the Mole Man's domain.
In his underground lair, the Mole Man is approached by the Red Ghost, who rescued his servants. The Red Ghost offers his services to the Mole Man, who readily accepts. The Avengers arrive soon after this alliance is formed.
Wasp immediately searches for Giant Man while the rest fight the Red Ghost, armed with a powerful impact weapon. Once Wasp frees Giant Man, he is able to sabotage the gyroscope. This forces the villains to retreat. Thor and Iron Man then destroy the machinery and the tunnels leading to the underground chamber.
Captain America and Rick Jones are also involved.