diff --git a/README.md b/README.md
index 1f6b722d..3f10bd04 100644
--- a/README.md
+++ b/README.md
@@ -154,11 +154,11 @@ Each of these must be appropriately built in preparation for a new tag:
 
 Run the following command inside this directory:
 
-    operator-sdk build geerlingguy/tower-operator:0.3.0
+    operator-sdk build geerlingguy/tower-operator:0.4.0
 
 Then push the generated image to Docker Hub:
 
-    docker push geerlingguy/tower-operator:0.3.0
+    docker push geerlingguy/tower-operator:0.4.0
 
 #### Build a new version of the `tower-operator.yaml` file
 
diff --git a/build/chain-operator-files.yml b/build/chain-operator-files.yml
index ab6d7661..b6e3a758 100644
--- a/build/chain-operator-files.yml
+++ b/build/chain-operator-files.yml
@@ -6,7 +6,7 @@
   gather_facts: false
 
   vars:
-    operator_image: geerlingguy/tower-operator:0.3.0
+    operator_image: geerlingguy/tower-operator:0.4.0
     pull_policy: Always
     operator_file_path: "../deploy/tower-operator.yaml"
     operator_template: "../deploy/operator.yaml"