The saturated trihydride IrH 3 {k 3-P,O,P-[xant(PiPr 2) 2 ]} (1;x ant(PiPr 2) 2 = 9,9-dimethyl-4,5-bis(diisopropylphosphino)xanthene)a ctivates the BÀHb ond of two molecules of pinacolborane (HBpin) to give H 2 ,t he hydride-boryl derivatives IrH 2 (Bpin){k 3-P,O,P-[xant(PiPr 2) 2 ]} (2)a nd IrH(Bpin) 2 {k 3-P,O,P-[xant(PiPr 2) 2 ]} (3)i nasequential manner.Complex 3 activates aC ÀHb ond of two molecules of benzene to form PhBpin and regenerates 2 and 1,a lso in as equentialm anner.T hus, complexes 1, 2,a nd 3 define two cycles for the catalytic direct CÀHb orylation of arenes with HBpin,w hich have di-hydride 2 as ac ommon intermediate. CÀHb ond activation of the arenes is the rate-determining step of both cycles, as the CÀHo xidative addition to 3 is faster than to 2.T he results from ak inetic study of the reactions of 1 and 2 with HBpin support ac ooperative function of the hydride ligands in the BÀHb ond activation.T he addition of the boron atom of the borane to ah ydride facilitates the coordinationo ft he BÀHb ond through the formation of k 1-a nd k 2-dihydrideborate intermediates. Scheme1.Proposed catalytic cycle for the borylation of arenes catalyzed by Ir(Bpin) 3 L 2 .