diff --git a/CHANGELOG.md b/CHANGELOG.md
index 32bb2dc..51d45d7 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -4,10 +4,19 @@ All notable changes to this project will be documented in this file.
 
 The format is based on [Keep a Changelog](https://keepachangelog.com/en/1.0.0/). This project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0.html).
 
-## Unreleased
+## 2.4.0 - 2023-09-14
+
+### Removed
+
+- Dropped support for Python 3.7, which has reached EOL. (Pull #247)
+
+### Added
+
+- Add official support for Python 3.11. (Pull #247)
 
 ### Fixed
 
+- Use faster SHA512-based key hasher instead of password hashers. Reduces server load by making API key validation orders of magnitude faster (10x to 30x according to estimations, network latency aside). (Pull #244)
 - Drop redundant `.has_object_permission()` implementation on `BaseHasAPIKey` when using DRF 3.14.0 or above. (Pull #240)
 
 ## 2.3.0 - 2023-01-19
diff --git a/src/rest_framework_api_key/__init__.py b/src/rest_framework_api_key/__init__.py
index 732566a..e179489 100644
--- a/src/rest_framework_api_key/__init__.py
+++ b/src/rest_framework_api_key/__init__.py
@@ -6,6 +6,6 @@
     if django.VERSION < (3, 2):  # pragma: no cover
         default_app_config = "rest_framework_api_key.apps.RestFrameworkApiKeyConfig"
 
-__version__ = "2.3.0"
+__version__ = "2.4.0"
 
 __all__ = ["__version__", "default_app_config"]