diff --git a/version.php b/version.php
index 702b8a91a794e..54d45acc85fb7 100644
--- a/version.php
+++ b/version.php
@@ -11,10 +11,10 @@
 // between betas, final and RCs. This is _not_ the public version number. Reset minor/patch level
 // when updating major/minor version number.
 
-$OC_Version = [34, 0, 0, 1];
+$OC_Version = [34, 0, 0, 2];
 
 // The human-readable string
-$OC_VersionString = '34.0.0 dev';
+$OC_VersionString = '34.0.0 beta 1';
 
 $OC_VersionCanBeUpgradedFrom = [
 	'nextcloud' => [