diff --git a/CHANGELOG.md b/CHANGELOG.md
index 63b936a..4125ef3 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -5,6 +5,23 @@ All notable changes to this project will be documented in this file.
 The format is based on [Keep a Changelog](https://keepachangelog.com/en/1.1.0/),
 and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0.html).
 
+## [0.8.0.rc1] - 2024-12-16
+
+### Added
+
+- Add Ruby 3.4.0-rc1 support to the precompiled, native gems
+
+### Changed
+
+- Provide separate precompiled, native gems for GNU and Musl
+- Require glibc 2.29+ for x86-linux-gnu and x86_64-linux-gnu (and recommend
+  RubyGems 3.3.22+ and Bundler 2.3.21+)
+
+### Removed
+
+- Drop support for Ruby versions older than 3.1 as they do not ship with a
+  version of RubyGems new enough to handle the new Musl gems
+
 ## [0.7.0] - 2024-11-08
 
 ### Fixed
@@ -111,6 +128,7 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
   reference C implementation of Argon2, the password-hashing function that won
   the Password Hashing Competition.
 
+[0.8.0.rc1]: https://github.com/mudge/argon2id/releases/tag/v0.8.0.rc1
 [0.7.0]: https://github.com/mudge/argon2id/releases/tag/v0.7.0
 [0.6.0]: https://github.com/mudge/argon2id/releases/tag/v0.6.0
 [0.5.0]: https://github.com/mudge/argon2id/releases/tag/v0.5.0
diff --git a/README.md b/README.md
index 831e948..213f4d3 100644
--- a/README.md
+++ b/README.md
@@ -5,7 +5,7 @@ Ruby bindings to [Argon2][], the password-hashing function that won the 2015
 
 [![Build Status](https://github.com/mudge/argon2id/actions/workflows/tests.yml/badge.svg?branch=main)](https://github.com/mudge/argon2id/actions)
 
-**Current version:** 0.7.0  
+**Current version:** 0.8.0.rc1  
 **Bundled Argon2 version:** libargon2.1 (20190702)
 
 ```ruby
diff --git a/argon2id.gemspec b/argon2id.gemspec
index ecb1f95..10e4c7c 100644
--- a/argon2id.gemspec
+++ b/argon2id.gemspec
@@ -18,7 +18,7 @@ Gem::Specification.new do |s|
     "source_code_uri" => "https://github.com/mudge/argon2id",
     "rubygems_mfa_required" => "true"
   }
-  s.required_ruby_version = ">= 2.6.0"
+  s.required_ruby_version = ">= 3.1.0"
   s.extensions = ["ext/argon2id/extconf.rb"]
   s.files = [
     "CHANGELOG.md",
diff --git a/lib/argon2id/version.rb b/lib/argon2id/version.rb
index 11b1a82..84b7002 100644
--- a/lib/argon2id/version.rb
+++ b/lib/argon2id/version.rb
@@ -1,5 +1,5 @@
 # frozen_string_literal: true
 
 module Argon2id
-  VERSION = "0.7.0"
+  VERSION = "0.8.0.rc1"
 end