diff --git a/.bumpversion.cfg b/.bumpversion.cfg
index f162a01..49c10f5 100644
--- a/.bumpversion.cfg
+++ b/.bumpversion.cfg
@@ -1,5 +1,5 @@
 [bumpversion]
-current_version = 0.4.0
+current_version = 0.5.0
 commit = True
 tag = True
 
diff --git a/nucypher_ops/__about__.py b/nucypher_ops/__about__.py
index 72dea33..1cf7967 100644
--- a/nucypher_ops/__about__.py
+++ b/nucypher_ops/__about__.py
@@ -4,7 +4,7 @@
 
 __summary__ = 'Install and management tools for a proxy re-encryption network to empower privacy in decentralized systems.'
 
-__version__ = "0.4.0"
+__version__ = "0.5.0"
 
 __author__ = "NuCypher"