diff --git a/CHANGELOG.md b/CHANGELOG.md
index 4eb4723d..f6a0920d 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,12 @@
 # Changelog
 
+## 12.5.0-beta.1 - 2024-07-25
+* [#1429](https://github.com/stripe/stripe-ruby/pull/1429) Update generated code for beta
+  * Add support for new resources `Billing.AlertTriggered`, `Billing.Alert`, and `Tax.Association`
+  * Add support for `activate`, `archive`, `create`, `deactivate`, `list`, and `retrieve` methods on resource `Alert`
+  * Add support for `find` method on resource `Association`
+* [#1434](https://github.com/stripe/stripe-ruby/pull/1434) Merge changes from stripe/stripe-ruby master
+
 ## 12.4.0 - 2024-07-25
 * [#1437](https://github.com/stripe/stripe-ruby/pull/1437) Update generated code
   * Add support for `update` method on resource `Checkout.Session`
diff --git a/VERSION b/VERSION
index dd3c2090..3b1b942e 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-12.2.0-beta.1
+12.5.0-beta.1
diff --git a/lib/stripe/version.rb b/lib/stripe/version.rb
index e7ff5145..ae560a66 100644
--- a/lib/stripe/version.rb
+++ b/lib/stripe/version.rb
@@ -1,5 +1,5 @@
 # frozen_string_literal: true
 
 module Stripe
-  VERSION = "12.2.0-beta.1"
+  VERSION = "12.5.0-beta.1"
 end