A theoretical model is developed to investigate the mechanical behavior of closely packed carbon nanoscrolls (CNSs), the so-called CNS crystals, subjected to uniaxial lateral compression/decompression. Molecular dynamics simulations are performed to verify the model predictions. It is shown that the compression behavior of a CNS crystal can exhibit strong hysteresis that may be tuned by an applied electric field. The present study demonstrates the potential of CNSs for applications in energy-absorbing materials as well as nanodevices, such as artificial muscles, where reversible and controllable volumetric deformations are desired.