diff --git a/packages/create-turbo/package.json b/packages/create-turbo/package.json
index 9473c5ba05cbf..a6d23a00a2f94 100644
--- a/packages/create-turbo/package.json
+++ b/packages/create-turbo/package.json
@@ -1,6 +1,6 @@
 {
   "name": "create-turbo",
-  "version": "1.12.4",
+  "version": "1.12.5-canary.0",
   "description": "Create a new Turborepo",
   "homepage": "https://turbo.build/repo",
   "license": "MPL-2.0",
diff --git a/packages/eslint-config-turbo/package.json b/packages/eslint-config-turbo/package.json
index f61d9fd004e5a..1f8e2e0adca8b 100644
--- a/packages/eslint-config-turbo/package.json
+++ b/packages/eslint-config-turbo/package.json
@@ -1,6 +1,6 @@
 {
   "name": "eslint-config-turbo",
-  "version": "1.12.4",
+  "version": "1.12.5-canary.0",
   "description": "ESLint config for Turborepo",
   "repository": {
     "type": "git",
diff --git a/packages/eslint-plugin-turbo/package.json b/packages/eslint-plugin-turbo/package.json
index a8c08c79e4ad5..636e574d59e96 100644
--- a/packages/eslint-plugin-turbo/package.json
+++ b/packages/eslint-plugin-turbo/package.json
@@ -1,6 +1,6 @@
 {
   "name": "eslint-plugin-turbo",
-  "version": "1.12.4",
+  "version": "1.12.5-canary.0",
   "description": "ESLint plugin for Turborepo",
   "keywords": [
     "turbo",
diff --git a/packages/turbo-codemod/package.json b/packages/turbo-codemod/package.json
index deca3385db0df..bb61384d06036 100644
--- a/packages/turbo-codemod/package.json
+++ b/packages/turbo-codemod/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@turbo/codemod",
-  "version": "1.12.4",
+  "version": "1.12.5-canary.0",
   "description": "Provides Codemod transformations to help upgrade your Turborepo codebase when a feature is deprecated.",
   "homepage": "https://turbo.build/repo",
   "license": "MPL-2.0",
diff --git a/packages/turbo-gen/package.json b/packages/turbo-gen/package.json
index 652d2a8ee050b..c9d868a13c163 100644
--- a/packages/turbo-gen/package.json
+++ b/packages/turbo-gen/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@turbo/gen",
-  "version": "1.12.4",
+  "version": "1.12.5-canary.0",
   "description": "Extend a Turborepo",
   "homepage": "https://turbo.build/repo",
   "license": "MPL-2.0",
diff --git a/packages/turbo-ignore/package.json b/packages/turbo-ignore/package.json
index b789e83ca2139..f1ca1795b5709 100644
--- a/packages/turbo-ignore/package.json
+++ b/packages/turbo-ignore/package.json
@@ -1,6 +1,6 @@
 {
   "name": "turbo-ignore",
-  "version": "1.12.4",
+  "version": "1.12.5-canary.0",
   "description": "",
   "homepage": "https://turbo.build/repo",
   "keywords": [],
diff --git a/packages/turbo-types/package.json b/packages/turbo-types/package.json
index 20015fc5c46b3..bd612c19b7c53 100644
--- a/packages/turbo-types/package.json
+++ b/packages/turbo-types/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@turbo/types",
-  "version": "1.12.4",
+  "version": "1.12.5-canary.0",
   "description": "Turborepo types",
   "homepage": "https://turbo.build/repo",
   "license": "MPL-2.0",
diff --git a/packages/turbo-workspaces/package.json b/packages/turbo-workspaces/package.json
index 4508ef3214867..9c4b2463bb2f9 100644
--- a/packages/turbo-workspaces/package.json
+++ b/packages/turbo-workspaces/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@turbo/workspaces",
-  "version": "1.12.4",
+  "version": "1.12.5-canary.0",
   "description": "Tools for working with package managers",
   "homepage": "https://turbo.build/repo",
   "license": "MPL-2.0",
diff --git a/packages/turbo/package.json b/packages/turbo/package.json
index 1532c0667abbd..5227ae05a4c1a 100644
--- a/packages/turbo/package.json
+++ b/packages/turbo/package.json
@@ -1,6 +1,6 @@
 {
   "name": "turbo",
-  "version": "1.12.4",
+  "version": "1.12.5-canary.0",
   "description": "Turborepo is a high-performance build system for JavaScript and TypeScript codebases.",
   "repository": "https://github.com/vercel/turbo",
   "bugs": "https://github.com/vercel/turbo/issues",
@@ -17,11 +17,11 @@
     "bin"
   ],
   "optionalDependencies": {
-    "turbo-darwin-64": "1.12.4",
-    "turbo-darwin-arm64": "1.12.4",
-    "turbo-linux-64": "1.12.4",
-    "turbo-linux-arm64": "1.12.4",
-    "turbo-windows-64": "1.12.4",
-    "turbo-windows-arm64": "1.12.4"
+    "turbo-darwin-64": "1.12.5-canary.0",
+    "turbo-darwin-arm64": "1.12.5-canary.0",
+    "turbo-linux-64": "1.12.5-canary.0",
+    "turbo-linux-arm64": "1.12.5-canary.0",
+    "turbo-windows-64": "1.12.5-canary.0",
+    "turbo-windows-arm64": "1.12.5-canary.0"
   }
 }
diff --git a/version.txt b/version.txt
index abceaa093b67f..96668bfa379b5 100644
--- a/version.txt
+++ b/version.txt
@@ -1,2 +1,2 @@
-1.12.4
-latest
+1.12.5-canary.0
+canary