AbstractUtilization of metal–organic frameworks (MOFs) as electrodes for energy storage/conversion is challenging because of the low chemical stability and poor electrical conductivity of MOFs in electrolytes. A nanoscale MOF, Co0.24Ni0.76‐bpa‐200, possessing ultrahigh stability with uncommon semiconductor behavior (σ=4.2×10−3 S m−1) was fabricated. The MOF comprises a robust hydrophobic paddlewheel and an optimized Co/Ni ratio, with consequent control over MOF size and the degree of conjugation of the coligand. A DFT study revealed that appropriate Ni2+ doping reduces the activation energy of the system, thus providing a higher carrier concentration, and the strongly delocalized N‐donor ligand notably increases the metal–ligand orbital overlap to achieve efficient charge migration, leading to continuous through‐bond (‐CoNi‐N‐CoNi‐)∞ conduction paths. These structural features endow the MOF with a good cycling stability of 86.5 % (10 000 cycles) and a high specific capacitance of 1927.14 F g−1 among pristine MOF‐based electrodes.