The diethynyldicarba‐closo‐dodecaboranes 1,2‐R2‐9,12‐(HCC)2‐closo‐1,2‐C2B10H8 [R = H (1a), Me (2a)] and 9,10‐(HCC)2‐closo‐1,7‐C2B10H10 (3a) were obtained by Pd‐catalyzed Kumada‐type cross‐coupling reactions of the corresponding diiodinated dicarba‐closo‐dodecaboranes withMe3SiCCMgBr followed by desilylation of the trimethylsilylalkynyl‐substituted clusters. In addition, the related {closo‐C2B10} derivatives with one ethynyl group 1,2‐R‐9‐HCC‐closo‐1,2‐C2B10H9 [R = H (4a), Me (5a)], 9‐HCC‐closo‐1,7‐C2B10H11 (6a), and 2‐HCC‐closo‐1,12‐C2B10H11 (7a) were synthesized and their spectroscopic properties were compared to those of the diethynyl‐substituted {closo‐C2B10} clusters. The ethynyl‐ and trimethylsilylalkynyl‐functionalized dicarba‐closo‐dodecaboranes were characterized by elemental analysis, mass spectrometry, as well as by multinuclear NMR, IR, and Raman spectroscopy. The assignment of the NMR spectroscopic chemical shifts and the IR and Raman bands is supported by theoretical values derived from density functional calculations. The crystal structures of 9,12‐(HCC)2‐closo‐1,2‐C2B10H10 (1a), 9,10‐(HCC)2‐closo‐1,7‐C2B10H10 (3a), and 1,2‐Me‐9,12‐(Me3SiCC)2‐closo‐1,2‐C2B10H8 (2b) were determined by single‐crystal X‐ray diffraction. Selected experimental bond properties are compared to bond lengths and angles calculated at the B3LYP/6‐311++G(d,p) level of theory.