diff --git a/.github/workflows/lints.yml b/.github/workflows/lints.yml
index d2347eac3..2c26b8554 100644
--- a/.github/workflows/lints.yml
+++ b/.github/workflows/lints.yml
@@ -70,19 +70,19 @@ jobs:
         if: always()
 
   rust-clippy:
-    name: Clippy (1.54.0)
+    name: Clippy (1.59.0)
     runs-on: ubuntu-latest
     steps:
       - uses: actions/checkout@v2
       - uses: actions-rs/toolchain@v1
         with:
-          toolchain: 1.54.0
+          toolchain: 1.59.0
           components: clippy
           override: true
       - name: Run clippy
         uses: actions-rs/clippy-check@v1
         with:
-          name: Clippy (1.54.0)
+          name: Clippy (1.59.0)
           token: ${{ secrets.GITHUB_TOKEN }}
           args: --all-features --all-targets -- -D warnings
 
@@ -93,7 +93,7 @@ jobs:
       - uses: actions/checkout@v2
       - uses: actions-rs/toolchain@v1
         with:
-          toolchain: 1.54.0
+          toolchain: 1.59.0
           override: true
       - run: rustup component add rustfmt
       - uses: actions-rs/cargo@v1
diff --git a/Cargo.toml b/Cargo.toml
index 358c0dc8f..e163acca3 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -18,7 +18,7 @@ repository = "https://github.com/zcash/zcash"
 readme = "README.md"
 license = "MIT OR Apache-2.0"
 edition = "2018"
-rust-version = "1.56"
+rust-version = "1.59"
 
 [lib]
 name = "rustzcash"
diff --git a/depends/packages/native_rust.mk b/depends/packages/native_rust.mk
index 3b3f0ea4c..a1901a8fe 100644
--- a/depends/packages/native_rust.mk
+++ b/depends/packages/native_rust.mk
@@ -1,14 +1,14 @@
 package=native_rust
-$(package)_version=1.57.0
+$(package)_version=1.59.0
 $(package)_download_path=https://static.rust-lang.org/dist
 $(package)_file_name_linux=rust-$($(package)_version)-x86_64-unknown-linux-gnu.tar.gz
-$(package)_sha256_hash_linux=ea0253784b2e5c22659ff148d492a68d2e11da734491714ebc61cc93896efcda
+$(package)_sha256_hash_linux=0c1c2da3fa26372e5178123aa5bb0fdcd4933fbad9bfb268ffbd71807182ecae
 $(package)_file_name_darwin=rust-$($(package)_version)-x86_64-apple-darwin.tar.gz
-$(package)_sha256_hash_darwin=15ceffc4743434c19d08f73fb4edd6642b7fd8162ed7101d3e6ca2c691fcb699
+$(package)_sha256_hash_darwin=d82204f536af0c7bfd2ea2213dc46b99911860cfc5517f7321244412ae96f159
 $(package)_file_name_freebsd=rust-$($(package)_version)-x86_64-unknown-freebsd.tar.gz
-$(package)_sha256_hash_freebsd=ebe96fa1f15e8d70c91e81aab7e0c341717b909225029f37d52fbdfa506e3fab
+$(package)_sha256_hash_freebsd=83f9c49b6e9025b712fc5d65e49f1b6ad959966534cd39c8dc2ce2c85a6ca484
 $(package)_file_name_aarch64_linux=rust-$($(package)_version)-aarch64-unknown-linux-gnu.tar.gz
-$(package)_sha256_hash_aarch64_linux=d66847f7cf7b548ecb328c400ac4f691ee2aea6ff5cd9286ad8733239569556c
+$(package)_sha256_hash_aarch64_linux=ab5da30a3de5433e26cbc74c56b9d97b569769fc2e456fc54378adc8baaee4f0
 
 # Mapping from GCC canonical hosts to Rust targets
 # If a mapping is not present, we assume they are identical, unless $host_os is
@@ -17,10 +17,10 @@ $(package)_rust_target_x86_64-pc-linux-gnu=x86_64-unknown-linux-gnu
 $(package)_rust_target_x86_64-w64-mingw32=x86_64-pc-windows-gnu
 
 # Mapping from Rust targets to SHA-256 hashes
-$(package)_rust_std_sha256_hash_aarch64-unknown-linux-gnu=4c70901d1cbddec9ea99fbd62b20f454d30e1ffbb48a21169ac823b3f02a1fbc
-$(package)_rust_std_sha256_hash_x86_64-apple-darwin=c1eb892ddb50ebeed288b7aa8171ad46d62362bb26b2d82d2b463dfd45606dc2
-$(package)_rust_std_sha256_hash_x86_64-pc-windows-gnu=75c910899ed36a90b155e3a01c21b863000675867efc56f2b68c44edd4b7e18c
-$(package)_rust_std_sha256_hash_x86_64-unknown-freebsd=1528a4bc7e3ba42da164bcc7b952dfa73048333c5b9254ce2d03db6bab6081e8
+$(package)_rust_std_sha256_hash_aarch64-unknown-linux-gnu=81dbd37919f631f962ac0798111803eb8f06ffde608f0e5dd3682d701cf5566d
+$(package)_rust_std_sha256_hash_x86_64-apple-darwin=959af8bafbc9f3916a1d1111d7378fdd7aa459410cdd2d3bbfc2d9d9a6db0683
+$(package)_rust_std_sha256_hash_x86_64-pc-windows-gnu=9a67ae84e9e75efb57eeeab617e32379a555de336a30bb74a476e575cd38f63a
+$(package)_rust_std_sha256_hash_x86_64-unknown-freebsd=cf5e4303dd7c3b70a738a2336097c9f2189c8b702a89a8c453d83ac0dee4602c
 
 define rust_target
 $(if $($(1)_rust_target_$(2)),$($(1)_rust_target_$(2)),$(if $(findstring darwin,$(3)),x86_64-apple-darwin,$(if $(findstring freebsd,$(3)),x86_64-unknown-freebsd,$(2))))
diff --git a/qa/zcash/postponed-updates.txt b/qa/zcash/postponed-updates.txt
index f590127f0..c4732b96a 100644
--- a/qa/zcash/postponed-updates.txt
+++ b/qa/zcash/postponed-updates.txt
@@ -19,7 +19,7 @@ native_ccache 4.6 2022-05-01
 
 # Clang is currently pinned to LLVM 13
 
-# Rust is currently pinned to 1.56.1
+# Rust is currently pinned to 1.59.0
 
 # We're never updating to this version
 bdb 18.1.40 2024-02-01
diff --git a/rust-toolchain b/rust-toolchain
index 43c989b55..bb120e876 100644
--- a/rust-toolchain
+++ b/rust-toolchain
@@ -1 +1 @@
-1.56.1
+1.59.0