diff --git a/pkgs/development/python-modules/ml-dtypes/default.nix b/pkgs/development/python-modules/ml-dtypes/default.nix
index 4a2948ca3e73..08c4a02ca90c 100644
--- a/pkgs/development/python-modules/ml-dtypes/default.nix
+++ b/pkgs/development/python-modules/ml-dtypes/default.nix
@@ -11,7 +11,7 @@
 
 buildPythonPackage rec {
   pname = "ml-dtypes";
-  version = "0.3.0";
+  version = "0.3.1";
   format = "pyproject";
 
   disabled = pythonOlder "3.9";
@@ -20,7 +20,7 @@ buildPythonPackage rec {
     owner = "jax-ml";
     repo = "ml_dtypes";
     rev = "refs/tags/v${version}";
-    hash = "sha256-crBTPQeRjgykkIpWx95ypyDeA/RRjWIasg9MR2r2yIU=";
+    hash = "sha256-tuqB5itrAkT2b76rgRAJaOeng4V83TzPu400DPYrdKU=";
     # Since this upstream patch (https://github.com/jax-ml/ml_dtypes/commit/1bfd097e794413b0d465fa34f2eff0f3828ff521),
     # the attempts to use the nixpkgs packaged eigen dependency have failed.
     # Hence, we rely on the bundled eigen library.