diff --git a/CHANGELOG.md b/CHANGELOG.md
index 4e92566cef..c918823fe0 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,16 @@
 # Changelog
 
+## 7.0.1 / 2024-05-31
+
+## What's Changed
+* Release/7.0.0 by @gus-opentensor in https://github.com/opentensor/bittensor/pull/1899
+* Fix return of ip version. by @opendansor in https://github.com/opentensor/bittensor/pull/1961
+* Fix trigger use_torch() by @renesweet24 https://github.com/opentensor/bittensor/pull/1960
+
+
+**Full Changelog**: https://github.com/opentensor/bittensor/compare/v7.0.0...v7.0.1
+
+
 ## 7.0.0 / 2024-05-29
 
 ## What's Changed
diff --git a/VERSION b/VERSION
index 66ce77b7ea..73a86b1970 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-7.0.0
+7.0.1
\ No newline at end of file
diff --git a/bittensor/__init__.py b/bittensor/__init__.py
index b8700daf79..22afe57058 100644
--- a/bittensor/__init__.py
+++ b/bittensor/__init__.py
@@ -27,7 +27,7 @@
 nest_asyncio.apply()
 
 # Bittensor code and protocol version.
-__version__ = "7.0.0"
+__version__ = "7.0.1"
 
 version_split = __version__.split(".")
 __version_as_int__: int = (
diff --git a/bittensor/axon.py b/bittensor/axon.py
index 52e6db3a30..b5ec9a4d01 100644
--- a/bittensor/axon.py
+++ b/bittensor/axon.py
@@ -56,6 +56,7 @@
     InternalServerError,
 )
 from bittensor.threadpool import PriorityThreadPoolExecutor
+from bittensor.utils import networking
 
 
 class FastAPIThreadedServer(uvicorn.Server):
@@ -392,7 +393,7 @@ def info(self) -> "bittensor.AxonInfo":
         return bittensor.AxonInfo(
             version=bittensor.__version_as_int__,
             ip=self.external_ip,
-            ip_type=4,
+            ip_type=networking.ip_version(self.external_ip),
             port=self.external_port,
             hotkey=self.wallet.hotkey.ss58_address,
             coldkey=self.wallet.coldkeypub.ss58_address,
diff --git a/bittensor/utils/weight_utils.py b/bittensor/utils/weight_utils.py
index 7a3d489ca6..0a46e5ea37 100644
--- a/bittensor/utils/weight_utils.py
+++ b/bittensor/utils/weight_utils.py
@@ -251,7 +251,7 @@ def process_weights_for_netuid(
         metagraph = subtensor.metagraph(netuid)
 
     # Cast weights to floats.
-    if not use_torch():
+    if use_torch():
         if not isinstance(weights, torch.FloatTensor):
             weights = weights.type(torch.float32)
     else:
diff --git a/tests/unit_tests/test_axon.py b/tests/unit_tests/test_axon.py
index 33a3724643..5b82148494 100644
--- a/tests/unit_tests/test_axon.py
+++ b/tests/unit_tests/test_axon.py
@@ -17,14 +17,16 @@
 # OF CONTRACT, TORT OR OTHERWISE, ARISING FROM, OUT OF OR IN CONNECTION WITH THE SOFTWARE OR THE USE OR OTHER
 # DEALINGS IN THE SOFTWARE.
 
-# Standard Lib
-import pytest
 import unittest
 from typing import Any
 from unittest import IsolatedAsyncioTestCase
 from unittest.mock import AsyncMock, MagicMock, patch
 
 # Third Party
+import netaddr
+
+# Standard Lib
+import pytest
 from starlette.requests import Request
 
 # Bittensor
@@ -341,6 +343,55 @@ def test_to_string(info_return, expected_output, test_id):
         assert output == expected_output, f"Test ID: {test_id}"
 
 
+@pytest.mark.parametrize(
+    "ip, port, expected_ip_type, test_id",
+    [
+        # Happy path
+        (
+            "127.0.0.1",
+            8080,
+            4,
+            "valid_ipv4",
+        ),
+        (
+            "2001:0db8:85a3:0000:0000:8a2e:0370:7334",
+            3030,
+            6,
+            "valid_ipv6",
+        ),
+    ],
+)
+def test_valid_ipv4_and_ipv6_address(ip, port, expected_ip_type, test_id):
+    # Arrange
+    axon = Axon()
+    axon.ip = ip
+    axon.external_ip = ip
+    axon.port = port
+
+    # Act
+    ip_type = axon.info().ip_type
+
+    # Assert
+    assert ip_type == expected_ip_type, f"Test ID: {test_id}"
+
+
+@pytest.mark.parametrize(
+    "ip, port, expected_exception",
+    [
+        (
+            "This Is not a valid address",
+            65534,
+            netaddr.core.AddrFormatError,
+        ),
+    ],
+    ids=["failed to detect a valid IP " "address from %r"],
+)
+def test_invalid_ip_address(ip, port, expected_exception):
+    # Assert
+    with pytest.raises(expected_exception):
+        Axon(ip=ip, external_ip=ip, port=port).info()
+
+
 @pytest.mark.parametrize(
     "ip, port, ss58_address, started, forward_fns, expected_str, test_id",
     [
diff --git a/tests/unit_tests/test_subtensor.py b/tests/unit_tests/test_subtensor.py
index b9dee7a110..4024a27f79 100644
--- a/tests/unit_tests/test_subtensor.py
+++ b/tests/unit_tests/test_subtensor.py
@@ -25,13 +25,13 @@
 
 # Application
 import bittensor
-from bittensor.subtensor import subtensor as Subtensor, _logger
 from bittensor import subtensor_module
+from bittensor.subtensor import subtensor as Subtensor, _logger
 
 
 def test_serve_axon_with_external_ip_set():
-    internal_ip: str = "this is an internal ip"
-    external_ip: str = "this is an external ip"
+    internal_ip: str = "192.0.2.146"
+    external_ip: str = "2001:0db8:85a3:0000:0000:8a2e:0370:7334"
 
     mock_serve_axon = MagicMock(return_value=True)
 
@@ -72,7 +72,7 @@ def test_serve_axon_with_external_ip_set():
 
 
 def test_serve_axon_with_external_port_set():
-    external_ip: str = "this is an external ip"
+    external_ip: str = "2001:0db8:85a3:0000:0000:8a2e:0370:7334"
 
     internal_port: int = 1234
     external_port: int = 5678