diff --git a/Cargo.toml b/Cargo.toml
index fad88c5..8f1bf5f 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -1,6 +1,6 @@
 [package]
 name = "idf-env"
-version = "1.2.22"
+version = "1.2.23"
 authors = ["Juraj Michalek <juraj.michalek@espressif.com>"]
 edition = "2018"
 
diff --git a/src/idf_env.rs b/src/idf_env.rs
index 1ddadf8..e01ca06 100644
--- a/src/idf_env.rs
+++ b/src/idf_env.rs
@@ -21,7 +21,7 @@ mod toit;
 async fn app() -> Result<()> {
     Commander::new()
         .options(|app| {
-            app.version("1.2.22")
+            app.version("1.2.23")
                 .name("idf-env")
                 .author("Espressif Systems - https://www.espressif.com")
                 .about("Tool for maintaining ESP-IDF environment on computer.")
diff --git a/src/rust.rs b/src/rust.rs
index b90c6fd..acc3248 100644
--- a/src/rust.rs
+++ b/src/rust.rs
@@ -11,7 +11,7 @@ use crate::config::get_tool_path;
 use crate::package::{prepare_package, prepare_package_strip_prefix, prepare_single_binary};
 use crate::shell::run_command;
 
-const DEFAULT_RUST_TOOLCHAIN_VERSION:&str = "1.58.0.0";
+const DEFAULT_RUST_TOOLCHAIN_VERSION:&str = "1.59.0.0";
 const DEFAULT_LLVM_VERSION:&str = "esp-13.0.0-20211203";
 
 struct RustToolchain {