diff --git a/HISTORY.rst b/HISTORY.rst
index f3f934a1..39c5fecd 100644
--- a/HISTORY.rst
+++ b/HISTORY.rst
@@ -4,6 +4,10 @@ Shotgun Python API Changelog
 
 Here you can see the full list of changes between each Python API release.
 
+v3.0.40 (2019 March 13)
+=====================
+- Updates encoding method to use shutil when uploading, to avoid memory and overflow errors when reading large files. (contributed by @eestrada)
+
 v3.0.39 (2019 February 20)
 =====================
 - Ensures the certificates packaged with the API and those specified via the `SHOTGUN_API_CACERTS` environment variable
diff --git a/setup.py b/setup.py
index ebcf099d..0f3b065c 100644
--- a/setup.py
+++ b/setup.py
@@ -17,7 +17,7 @@
 
 setup(
     name='shotgun_api3',
-    version='3.0.39',
+    version='3.0.40',
     description='Shotgun Python API ',
     long_description=readme,
     author='Shotgun Software',
diff --git a/shotgun_api3/shotgun.py b/shotgun_api3/shotgun.py
index 7043908c..81627ca1 100755
--- a/shotgun_api3/shotgun.py
+++ b/shotgun_api3/shotgun.py
@@ -92,7 +92,7 @@
 
 # ----------------------------------------------------------------------------
 # Version
-__version__ = "3.0.39"
+__version__ = "3.0.40"
 
 # ----------------------------------------------------------------------------
 # Errors