diff --git a/.bumpversion.cfg b/.bumpversion.cfg
index 5ddc8ac05..1b83bb723 100644
--- a/.bumpversion.cfg
+++ b/.bumpversion.cfg
@@ -1,5 +1,5 @@
 [bumpversion]
-current_version = 3.1.0
+current_version = 3.1.1
 commit = True
 tag = True
 
diff --git a/ocean_lib/__init__.py b/ocean_lib/__init__.py
index 6fe4379d2..75c5c4c10 100644
--- a/ocean_lib/__init__.py
+++ b/ocean_lib/__init__.py
@@ -7,5 +7,5 @@
 
 __author__ = """OceanProtocol"""
 # fmt: off
-__version__ = '3.1.0'
+__version__ = '3.1.1'
 # fmt: on
diff --git a/setup.py b/setup.py
index e1d60e312..b9c2d4c8c 100644
--- a/setup.py
+++ b/setup.py
@@ -89,7 +89,7 @@
     url="https://github.com/oceanprotocol/ocean.py",
     # fmt: off
     # bumpversion.sh needs single-quotes
-    version='3.1.0',
+    version='3.1.1',
     # fmt: on
     zip_safe=False,
 )