diff --git a/Cargo.lock b/Cargo.lock
index 4ce00a4c19679..335129091cee5 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -4346,7 +4346,7 @@ dependencies = [
 
 [[package]]
 name = "mz-balancerd"
-version = "0.124.0"
+version = "0.124.1"
 dependencies = [
  "anyhow",
  "async-trait",
@@ -4490,7 +4490,7 @@ dependencies = [
 
 [[package]]
 name = "mz-catalog-debug"
-version = "0.124.0"
+version = "0.124.1"
 dependencies = [
  "anyhow",
  "clap",
@@ -4646,7 +4646,7 @@ dependencies = [
 
 [[package]]
 name = "mz-clusterd"
-version = "0.124.0"
+version = "0.124.1"
 dependencies = [
  "anyhow",
  "axum",
@@ -4926,7 +4926,7 @@ dependencies = [
 
 [[package]]
 name = "mz-environmentd"
-version = "0.124.0"
+version = "0.124.1"
 dependencies = [
  "anyhow",
  "askama",
@@ -5726,7 +5726,7 @@ dependencies = [
 
 [[package]]
 name = "mz-persist-client"
-version = "0.124.0"
+version = "0.124.1"
 dependencies = [
  "anyhow",
  "arrayvec 0.7.4",
@@ -6813,7 +6813,7 @@ dependencies = [
 
 [[package]]
 name = "mz-testdrive"
-version = "0.124.0"
+version = "0.124.1"
 dependencies = [
  "anyhow",
  "arrow",
diff --git a/LICENSE b/LICENSE
index 16e7b5d040fae..1a027dd6f91a1 100644
--- a/LICENSE
+++ b/LICENSE
@@ -13,7 +13,7 @@ Business Source License 1.1
 
 Licensor:                  Materialize, Inc.
 
-Licensed Work:             Materialize Version v0.124.0
+Licensed Work:             Materialize Version v0.124.1
                            The Licensed Work is © 2024 Materialize, Inc.
 
 Additional Use Grant:      Within a single installation of Materialize, you
diff --git a/src/balancerd/BUILD.bazel b/src/balancerd/BUILD.bazel
index d2c8b53596a0a..ed6e4d4bc823a 100644
--- a/src/balancerd/BUILD.bazel
+++ b/src/balancerd/BUILD.bazel
@@ -30,7 +30,7 @@ rust_library(
     proc_macro_deps = [] + all_crate_deps(proc_macro = True),
     rustc_env = {},
     rustc_flags = [],
-    version = "0.124.0",
+    version = "0.124.1",
     deps = [
         "//src/alloc:mz_alloc",
         "//src/alloc-default:mz_alloc_default",
@@ -70,7 +70,7 @@ rust_test(
     ),
     rustc_env = {},
     rustc_flags = [],
-    version = "0.124.0",
+    version = "0.124.1",
     deps = [
         "//src/alloc:mz_alloc",
         "//src/alloc-default:mz_alloc_default",
@@ -137,7 +137,7 @@ rust_test(
     ),
     rustc_env = {},
     rustc_flags = [],
-    version = "0.124.0",
+    version = "0.124.1",
     deps = [
         ":mz_balancerd",
         "//src/alloc:mz_alloc",
@@ -175,7 +175,7 @@ rust_binary(
     proc_macro_deps = [] + all_crate_deps(proc_macro = True),
     rustc_env = {},
     rustc_flags = [],
-    version = "0.124.0",
+    version = "0.124.1",
     deps = [
         ":mz_balancerd",
         "//src/alloc:mz_alloc",
diff --git a/src/balancerd/Cargo.toml b/src/balancerd/Cargo.toml
index 66e040c4d5a83..1a50da2f2082b 100644
--- a/src/balancerd/Cargo.toml
+++ b/src/balancerd/Cargo.toml
@@ -1,7 +1,7 @@
 [package]
 name = "mz-balancerd"
 description = "Balancer service."
-version = "0.124.0"
+version = "0.124.1"
 edition.workspace = true
 rust-version.workspace = true
 publish = false
diff --git a/src/catalog-debug/BUILD.bazel b/src/catalog-debug/BUILD.bazel
index 0647a317c669f..5f2a6719ff9f1 100644
--- a/src/catalog-debug/BUILD.bazel
+++ b/src/catalog-debug/BUILD.bazel
@@ -29,7 +29,7 @@ rust_binary(
     proc_macro_deps = [] + all_crate_deps(proc_macro = True),
     rustc_env = {},
     rustc_flags = [],
-    version = "0.124.0",
+    version = "0.124.1",
     deps = [
         "//src/adapter:mz_adapter",
         "//src/build-info:mz_build_info",
diff --git a/src/catalog-debug/Cargo.toml b/src/catalog-debug/Cargo.toml
index 2e0882620ce54..119396da5d6df 100644
--- a/src/catalog-debug/Cargo.toml
+++ b/src/catalog-debug/Cargo.toml
@@ -1,7 +1,7 @@
 [package]
 name = "mz-catalog-debug"
 description = "Durable metadata storage debug tool."
-version = "0.124.0"
+version = "0.124.1"
 edition.workspace = true
 rust-version.workspace = true
 publish = false
diff --git a/src/clusterd/BUILD.bazel b/src/clusterd/BUILD.bazel
index 88eaf28f9bc12..b22c54d151d8e 100644
--- a/src/clusterd/BUILD.bazel
+++ b/src/clusterd/BUILD.bazel
@@ -29,7 +29,7 @@ rust_binary(
     proc_macro_deps = [] + all_crate_deps(proc_macro = True),
     rustc_env = {},
     rustc_flags = [],
-    version = "0.124.0",
+    version = "0.124.1",
     deps = [
         "//src/alloc:mz_alloc",
         "//src/alloc-default:mz_alloc_default",
diff --git a/src/clusterd/Cargo.toml b/src/clusterd/Cargo.toml
index e6628a451173c..d86af7af3f887 100644
--- a/src/clusterd/Cargo.toml
+++ b/src/clusterd/Cargo.toml
@@ -1,7 +1,7 @@
 [package]
 name = "mz-clusterd"
 description = "Materialize's cluster server."
-version = "0.124.0"
+version = "0.124.1"
 edition.workspace = true
 rust-version.workspace = true
 publish = false
diff --git a/src/environmentd/BUILD.bazel b/src/environmentd/BUILD.bazel
index 42d2e5bb0fd5d..77bdab20ded1e 100644
--- a/src/environmentd/BUILD.bazel
+++ b/src/environmentd/BUILD.bazel
@@ -43,7 +43,7 @@ rust_library(
     proc_macro_deps = [] + all_crate_deps(proc_macro = True),
     rustc_env = {},
     rustc_flags = [],
-    version = "0.124.0",
+    version = "0.124.1",
     deps = [
         ":mz_environmentd_build_script",
         "//src/adapter:mz_adapter",
@@ -116,7 +116,7 @@ rust_test(
     ),
     rustc_env = {},
     rustc_flags = [],
-    version = "0.124.0",
+    version = "0.124.1",
     deps = [
         "//src/adapter:mz_adapter",
         "//src/adapter-types:mz_adapter_types",
@@ -251,7 +251,7 @@ rust_test(
     ),
     rustc_env = {},
     rustc_flags = [],
-    version = "0.124.0",
+    version = "0.124.1",
     deps = [
         "//src/adapter:mz_adapter",
         "//src/adapter-types:mz_adapter_types",
@@ -319,7 +319,7 @@ rust_test(
     ),
     rustc_env = {},
     rustc_flags = [],
-    version = "0.124.0",
+    version = "0.124.1",
     deps = [
         "//src/adapter:mz_adapter",
         "//src/adapter-types:mz_adapter_types",
@@ -387,7 +387,7 @@ rust_test(
     ),
     rustc_env = {},
     rustc_flags = [],
-    version = "0.124.0",
+    version = "0.124.1",
     deps = [
         "//src/adapter:mz_adapter",
         "//src/adapter-types:mz_adapter_types",
@@ -455,7 +455,7 @@ rust_test(
     ),
     rustc_env = {},
     rustc_flags = [],
-    version = "0.124.0",
+    version = "0.124.1",
     deps = [
         "//src/adapter:mz_adapter",
         "//src/adapter-types:mz_adapter_types",
@@ -523,7 +523,7 @@ rust_test(
     ),
     rustc_env = {},
     rustc_flags = [],
-    version = "0.124.0",
+    version = "0.124.1",
     deps = [
         "//src/adapter:mz_adapter",
         "//src/adapter-types:mz_adapter_types",
@@ -591,7 +591,7 @@ rust_test(
     ),
     rustc_env = {},
     rustc_flags = [],
-    version = "0.124.0",
+    version = "0.124.1",
     deps = [
         "//src/adapter:mz_adapter",
         "//src/adapter-types:mz_adapter_types",
@@ -659,7 +659,7 @@ rust_test(
     ),
     rustc_env = {},
     rustc_flags = [],
-    version = "0.124.0",
+    version = "0.124.1",
     deps = [
         "//src/adapter:mz_adapter",
         "//src/adapter-types:mz_adapter_types",
@@ -721,7 +721,7 @@ rust_binary(
     proc_macro_deps = [] + all_crate_deps(proc_macro = True),
     rustc_env = {},
     rustc_flags = [],
-    version = "0.124.0",
+    version = "0.124.1",
     deps = [
         ":mz_environmentd",
         "//src/adapter:mz_adapter",
diff --git a/src/environmentd/Cargo.toml b/src/environmentd/Cargo.toml
index 3d3f9aa495c3c..8ec2e3d0ed78e 100644
--- a/src/environmentd/Cargo.toml
+++ b/src/environmentd/Cargo.toml
@@ -1,7 +1,7 @@
 [package]
 name = "mz-environmentd"
 description = "Manages a single Materialize environment."
-version = "0.124.0"
+version = "0.124.1"
 authors = ["Materialize, Inc."]
 license = "proprietary"
 edition.workspace = true
diff --git a/src/persist-client/BUILD.bazel b/src/persist-client/BUILD.bazel
index d79ccdf8db207..536f57d75af9f 100644
--- a/src/persist-client/BUILD.bazel
+++ b/src/persist-client/BUILD.bazel
@@ -28,7 +28,7 @@ rust_library(
     proc_macro_deps = ["//src/persist-proc:mz_persist_proc"] + all_crate_deps(proc_macro = True),
     rustc_env = {},
     rustc_flags = [],
-    version = "0.124.0",
+    version = "0.124.1",
     deps = [
         ":mz_persist_client_build_script",
         "//src/build-info:mz_build_info",
@@ -67,7 +67,7 @@ rust_test(
     ),
     rustc_env = {},
     rustc_flags = [],
-    version = "0.124.0",
+    version = "0.124.1",
     deps = [
         "//src/build-info:mz_build_info",
         "//src/dyncfg:mz_dyncfg",
diff --git a/src/persist-client/Cargo.toml b/src/persist-client/Cargo.toml
index 224f3a02b23f5..8ee2e4a73a45a 100644
--- a/src/persist-client/Cargo.toml
+++ b/src/persist-client/Cargo.toml
@@ -1,7 +1,7 @@
 [package]
 name = "mz-persist-client"
 description = "Client for Materialize pTVC durability system"
-version = "0.124.0"
+version = "0.124.1"
 edition.workspace = true
 rust-version.workspace = true
 publish = false
diff --git a/src/testdrive/BUILD.bazel b/src/testdrive/BUILD.bazel
index 4698a84caa213..756b317fccc96 100644
--- a/src/testdrive/BUILD.bazel
+++ b/src/testdrive/BUILD.bazel
@@ -28,7 +28,7 @@ rust_library(
     proc_macro_deps = [] + all_crate_deps(proc_macro = True),
     rustc_env = {},
     rustc_flags = [],
-    version = "0.124.0",
+    version = "0.124.1",
     deps = [
         ":mz_testdrive_build_script",
         "//src/adapter:mz_adapter",
@@ -73,7 +73,7 @@ rust_test(
     ),
     rustc_env = {},
     rustc_flags = [],
-    version = "0.124.0",
+    version = "0.124.1",
     deps = [
         "//src/adapter:mz_adapter",
         "//src/avro:mz_avro",
@@ -162,7 +162,7 @@ rust_binary(
     proc_macro_deps = [] + all_crate_deps(proc_macro = True),
     rustc_env = {},
     rustc_flags = [],
-    version = "0.124.0",
+    version = "0.124.1",
     deps = [
         ":mz_testdrive",
         "//src/adapter:mz_adapter",
diff --git a/src/testdrive/Cargo.toml b/src/testdrive/Cargo.toml
index eefff365d1d85..e81af3d4202e8 100644
--- a/src/testdrive/Cargo.toml
+++ b/src/testdrive/Cargo.toml
@@ -1,7 +1,7 @@
 [package]
 name = "mz-testdrive"
 description = "Integration test driver for Materialize."
-version = "0.124.0"
+version = "0.124.1"
 edition.workspace = true
 rust-version.workspace = true
 publish = false