The article discusses an economic method for generating hydrogen and utilizing carbon nanofibers (CNFs) through methane cracking over a Ni/Ferrierite catalyst. The deactivated catalyst displayed good electrical conductivity and hydrogen storage properties. Characterization studies showed nearly 70% of nickel recovery from the deactivated catalyst. Impedance studies indicated the potential of CNFs as battery electrodes due to their conductivity in the presence of nickel. The hydrogen storage capacity was significantly improved upon Ni recovery and further increased by Li doping. The article highlights the potential applications of CNFs in hydrogen storage, carbon electrodes for batteries, quantum wires, resistors, and nano-probes in microscopy. The purification of CNFs from metal particles was discussed, emphasizing the importance of high-quality CNFs for various applications. Overall, the article underscores the significance of utilizing deactivated catalysts for both battery applications and hydrogen storage materials, offering an economic and environmentally friendly approach to hydrogen production and CNF utilization.