diff --git a/setup.py b/setup.py
index 71a681b4..d91c47aa 100644
--- a/setup.py
+++ b/setup.py
@@ -60,7 +60,7 @@
         "datasets",
         "accelerate>=0.20.3,!=1.1.0",
         "pynvml==11.5.3",
-        "compressed-tensors"
+        "compressed-tensors==0.8.1"
         if version_info.build_type == "release"
         else "compressed-tensors-nightly",
     ],
diff --git a/src/llmcompressor/version.py b/src/llmcompressor/version.py
index 9632ef77..df576ff8 100644
--- a/src/llmcompressor/version.py
+++ b/src/llmcompressor/version.py
@@ -8,7 +8,7 @@
 from typing import Optional, Tuple
 
 # Define the base version and build type
-version_base = "0.3.0"
+version_base = "0.3.1"
 build_type = "dev"  # can be 'release', 'nightly', 'dev', or 'dev' with a dev number