Complex Rh(Bpin){κ 3 -P,O,P-[xant(P i Pr 2 ) 2 ]} (Bpin = pinacolboryl; xant(P i Pr 2 ) 2 = 9,9-dimethyl-4,5-bis(diisopropylphosphino)xanthene) catalyzes the addition of B 2 pin 2 to 3-hexyne and 4octyne to give equimolecular mixtures of conjugated boryldienes and borylolefins, as a result of the addition of the B−B bond of the diborane to different molecules of alkynes and hydride transfer from one to the other. Both the dehydrogenative borylation and hydroborylation reactions form a catalytic cycle that has been deduced on the basis of stoichiometric studies. Complex Rh(Bpin){κ 3 -P,O,P-[xant(P i Pr 2 ) 2 ]} promotes the dehydrogenative borylation of alkynes by means of reactions of insertion of the alkyne into the Rh−B bond, Z−E isomerization of the β-borylalkenyl ligand of the resulting Rh−alkenyl species, and C γ −H bond activation of the alkyl substituent attached to the alkenyl C α atom. As a consequence of the formation of boryldienes, the monohydride RhH{κ 3 -P,O,P-[xant(P i Pr 2 ) 2 ]} is generated. The latter in a sequential manner reacts with the alkynes and the diborane to give the borylolefin hydroborylation products, via Rh−alkenyl intermediates, and regenerates the initial Rh−boryl compound. The latter also promotes stoichiometric cycles to prepare diboryl-2-olefins via allyl intermediates. In addition, the stoichiometric rhodiummediated formation of 1-boryl-2-olefins is shown.