diff --git a/deps/k_release b/deps/k_release
index de5f65710e..f93d64c1a7 100644
--- a/deps/k_release
+++ b/deps/k_release
@@ -1 +1 @@
-7.0.60
+7.0.61
diff --git a/flake.lock b/flake.lock
index b57263ce9d..37a3e0db58 100644
--- a/flake.lock
+++ b/flake.lock
@@ -242,16 +242,16 @@
         "rv-utils": "rv-utils_3"
       },
       "locked": {
-        "lastModified": 1715614951,
-        "narHash": "sha256-FP4zQbdc4gSAEt3v44LPSHO4xhpaZB8+yd7YVbXoQ7k=",
+        "lastModified": 1715696742,
+        "narHash": "sha256-t2lYiaB68ZWOzZNK3qgkN9tKAQ2TYwC/xPf6yZC9Abo=",
         "owner": "runtimeverification",
         "repo": "k",
-        "rev": "f66c8efd33deeb6c97f1a44bf6ff6f6954cdada8",
+        "rev": "b81ea70cf9393f0f2acfedfa145e7e3b5d1ef1b5",
         "type": "github"
       },
       "original": {
         "owner": "runtimeverification",
-        "ref": "v7.0.60",
+        "ref": "v7.0.61",
         "repo": "k",
         "type": "github"
       }
@@ -447,17 +447,17 @@
       },
       "locked": {
         "dir": "pyk",
-        "lastModified": 1715614951,
-        "narHash": "sha256-FP4zQbdc4gSAEt3v44LPSHO4xhpaZB8+yd7YVbXoQ7k=",
+        "lastModified": 1715696742,
+        "narHash": "sha256-t2lYiaB68ZWOzZNK3qgkN9tKAQ2TYwC/xPf6yZC9Abo=",
         "owner": "runtimeverification",
         "repo": "k",
-        "rev": "f66c8efd33deeb6c97f1a44bf6ff6f6954cdada8",
+        "rev": "b81ea70cf9393f0f2acfedfa145e7e3b5d1ef1b5",
         "type": "github"
       },
       "original": {
         "dir": "pyk",
         "owner": "runtimeverification",
-        "ref": "v7.0.60",
+        "ref": "v7.0.61",
         "repo": "k",
         "type": "github"
       }
diff --git a/flake.nix b/flake.nix
index 548fc76126..af52e12850 100644
--- a/flake.nix
+++ b/flake.nix
@@ -2,11 +2,11 @@
   description = "A flake for the KEVM Semantics";
 
   inputs = {
-    k-framework.url = "github:runtimeverification/k/v7.0.60";
+    k-framework.url = "github:runtimeverification/k/v7.0.61";
     nixpkgs.follows = "k-framework/nixpkgs";
     flake-utils.follows = "k-framework/flake-utils";
     rv-utils.follows = "k-framework/rv-utils";
-    pyk.url = "github:runtimeverification/k/v7.0.60?dir=pyk";
+    pyk.url = "github:runtimeverification/k/v7.0.61?dir=pyk";
     nixpkgs-pyk.follows = "pyk/nixpkgs";
     poetry2nix.follows = "pyk/poetry2nix";
     blockchain-k-plugin = {
diff --git a/kevm-pyk/poetry.lock b/kevm-pyk/poetry.lock
index 2405c28d97..9a8c87d6d8 100644
--- a/kevm-pyk/poetry.lock
+++ b/kevm-pyk/poetry.lock
@@ -814,7 +814,7 @@ windows-terminal = ["colorama (>=0.4.6)"]
 
 [[package]]
 name = "pyk"
-version = "7.0.60"
+version = "7.0.61"
 description = ""
 optional = false
 python-versions = "^3.10"
@@ -835,8 +835,8 @@ xdg-base-dirs = "^6.0.1"
 [package.source]
 type = "git"
 url = "https://github.com/runtimeverification/k.git"
-reference = "v7.0.60"
-resolved_reference = "f66c8efd33deeb6c97f1a44bf6ff6f6954cdada8"
+reference = "v7.0.61"
+resolved_reference = "b81ea70cf9393f0f2acfedfa145e7e3b5d1ef1b5"
 subdirectory = "pyk"
 
 [[package]]
@@ -1117,4 +1117,4 @@ testing = ["big-O", "jaraco.functools", "jaraco.itertools", "more-itertools", "p
 [metadata]
 lock-version = "2.0"
 python-versions = "^3.10"
-content-hash = "bd0bdcb4d84b027f8b057f86b28ff84ab2434ac9cb0c5ba18f64c6e97421b861"
+content-hash = "361f835b66be503eb76a0a28fbcf25c410db8e71db27d5f3f061caa4e0f202e5"
diff --git a/kevm-pyk/pyproject.toml b/kevm-pyk/pyproject.toml
index d12f0b3336..926c2a5b5e 100644
--- a/kevm-pyk/pyproject.toml
+++ b/kevm-pyk/pyproject.toml
@@ -4,7 +4,7 @@ build-backend = "poetry.core.masonry.api"
 
 [tool.poetry]
 name = "kevm-pyk"
-version = "1.0.553"
+version = "1.0.554"
 description = ""
 authors = [
     "Runtime Verification, Inc. <contact@runtimeverification.com>",
@@ -13,7 +13,7 @@ authors = [
 [tool.poetry.dependencies]
 python = "^3.10"
 pathos = "*"
-pyk = { git = "https://github.com/runtimeverification/k.git", tag="v7.0.60", subdirectory = "pyk" }
+pyk = { git = "https://github.com/runtimeverification/k.git", tag="v7.0.61", subdirectory = "pyk" }
 tomlkit = "^0.11.6"
 
 [tool.poetry.group.dev.dependencies]
diff --git a/kevm-pyk/src/kevm_pyk/__init__.py b/kevm-pyk/src/kevm_pyk/__init__.py
index cfbd9a3a6d..0105da191f 100644
--- a/kevm-pyk/src/kevm_pyk/__init__.py
+++ b/kevm-pyk/src/kevm_pyk/__init__.py
@@ -5,4 +5,4 @@
 if TYPE_CHECKING:
     from typing import Final
 
-VERSION: Final = '1.0.553'
+VERSION: Final = '1.0.554'
diff --git a/package/version b/package/version
index cfbb1b27db..298c90f73e 100644
--- a/package/version
+++ b/package/version
@@ -1 +1 @@
-1.0.553
+1.0.554