diff --git a/README.md b/README.md
index 86b98277..4f08ea3d 100644
--- a/README.md
+++ b/README.md
@@ -16,13 +16,14 @@ Check out the [quickstart guide](./docs/Usage.md#quick-start) for launching a cl
 ## Compatibility with Cluster API and Kubernetes Versions
 This provider's versions are compatible with the following versions of Cluster API:
 
-|                        | Cluster API v1beta1 (v1.4) | Cluster API v1beta1 (v1.5) | Cluster API v1beta1 (v1.6) | Cluster API v1beta1 (v1.7) |
-|------------------------|:--------------------------:|:--------------------------:|:--------------------------:|:--------------------------:|
-| CAPMOX v1alpha1 (v0.1) |             ✓              |             ✓              |             ☓              |             ☓              |
-| CAPMOX v1alpha1 (v0.2) |             ☓              |             ✓              |             ✓              |             ☓              |
-| CAPMOX v1alpha1 (v0.3) |             ☓              |             ✓              |             ✓              |             ✓              |
-| CAPMOX v1alpha1 (v0.4) |             ☓              |             ✓              |             ✓              |             ✓              |
-| CAPMOX v1alpha1 (v0.5) |             ☓              |             ☓              |             ✓              |             ✓              |
+|                        | Cluster API v1beta1 (v1.4) | Cluster API v1beta1 (v1.5) | Cluster API v1beta1 (v1.6) | Cluster API v1beta1 (v1.7) | Cluster API v1beta1 (v1.8) |
+|------------------------|:--------------------------:|:--------------------------:|:--------------------------:|:--------------------------:|:--------------------------:|
+| CAPMOX v1alpha1 (v0.1) |             ✓              |             ✓              |             ☓              |             ☓              |             ☓              |
+| CAPMOX v1alpha1 (v0.2) |             ☓              |             ✓              |             ✓              |             ☓              |             ☓              |
+| CAPMOX v1alpha1 (v0.3) |             ☓              |             ✓              |             ✓              |             ✓              |             ☓              |
+| CAPMOX v1alpha1 (v0.4) |             ☓              |             ✓              |             ✓              |             ✓              |             ☓              |
+| CAPMOX v1alpha1 (v0.5) |             ☓              |             ☓              |             ✓              |             ✓              |             ☓              |
+| CAPMOX v1alpha1 (v0.6) |             ☓              |             ☓              |             ☓              |             ✓              |             ✓              |
 
 (See [Kubernetes support matrix](https://cluster-api.sigs.k8s.io/reference/versions.html) of Cluster API versions).
 
diff --git a/api/v1alpha1/conditions_consts.go b/api/v1alpha1/conditions_consts.go
index 4fe24020..13227300 100644
--- a/api/v1alpha1/conditions_consts.go
+++ b/api/v1alpha1/conditions_consts.go
@@ -1,5 +1,5 @@
 /*
-Copyright 2023 IONOS Cloud.
+Copyright 2023-2024 IONOS Cloud.
 
 Licensed under the Apache License, Version 2.0 (the "License");
 you may not use this file except in compliance with the License.
diff --git a/clusterctl-settings.json b/clusterctl-settings.json
index 57d65285..4afa69e1 100644
--- a/clusterctl-settings.json
+++ b/clusterctl-settings.json
@@ -2,6 +2,6 @@
   "name": "infrastructure-proxmox",
   "config": {
     "componentsFile": "infrastructure-components.yaml",
-    "nextVersion": "v0.5.1"
+    "nextVersion": "v0.6.0"
   }
 }
diff --git a/internal/controller/proxmoxcluster_controller.go b/internal/controller/proxmoxcluster_controller.go
index 9f965147..56454fad 100644
--- a/internal/controller/proxmoxcluster_controller.go
+++ b/internal/controller/proxmoxcluster_controller.go
@@ -1,5 +1,5 @@
 /*
-Copyright 2023 IONOS Cloud.
+Copyright 2023-2024 IONOS Cloud.
 
 Licensed under the Apache License, Version 2.0 (the "License");
 you may not use this file except in compliance with the License.
diff --git a/internal/controller/suite_test.go b/internal/controller/suite_test.go
index cba38c13..7f02da0d 100644
--- a/internal/controller/suite_test.go
+++ b/internal/controller/suite_test.go
@@ -1,5 +1,5 @@
 /*
-Copyright 2023 IONOS Cloud.
+Copyright 2023-2024 IONOS Cloud.
 
 Licensed under the Apache License, Version 2.0 (the "License");
 you may not use this file except in compliance with the License.
diff --git a/internal/inject/inject.go b/internal/inject/inject.go
index b52e50e6..0f08f04f 100644
--- a/internal/inject/inject.go
+++ b/internal/inject/inject.go
@@ -1,5 +1,5 @@
 /*
-Copyright 2023 IONOS Cloud.
+Copyright 2023-2024 IONOS Cloud.
 
 Licensed under the Apache License, Version 2.0 (the "License");
 you may not use this file except in compliance with the License.
diff --git a/internal/service/vmservice/delete.go b/internal/service/vmservice/delete.go
index d5b573de..c6ec64bb 100644
--- a/internal/service/vmservice/delete.go
+++ b/internal/service/vmservice/delete.go
@@ -1,5 +1,5 @@
 /*
-Copyright 2023 IONOS Cloud.
+Copyright 2023-2024 IONOS Cloud.
 
 Licensed under the Apache License, Version 2.0 (the "License");
 you may not use this file except in compliance with the License.
diff --git a/internal/service/vmservice/delete_test.go b/internal/service/vmservice/delete_test.go
index bcbe570b..53a04103 100644
--- a/internal/service/vmservice/delete_test.go
+++ b/internal/service/vmservice/delete_test.go
@@ -1,5 +1,5 @@
 /*
-Copyright 2023 IONOS Cloud.
+Copyright 2023-2024 IONOS Cloud.
 
 Licensed under the Apache License, Version 2.0 (the "License");
 you may not use this file except in compliance with the License.
diff --git a/internal/service/vmservice/power_test.go b/internal/service/vmservice/power_test.go
index 696b47ba..311dad70 100644
--- a/internal/service/vmservice/power_test.go
+++ b/internal/service/vmservice/power_test.go
@@ -1,5 +1,5 @@
 /*
-Copyright 2023 IONOS Cloud.
+Copyright 2023-2024 IONOS Cloud.
 
 Licensed under the Apache License, Version 2.0 (the "License");
 you may not use this file except in compliance with the License.
diff --git a/metadata.yaml b/metadata.yaml
index ff533e7f..001b4937 100644
--- a/metadata.yaml
+++ b/metadata.yaml
@@ -17,3 +17,6 @@ releaseSeries:
 - major: 0
   minor: 5
   contract: v1beta1
+- major: 0
+  minor: 6
+  contract: v1beta1
diff --git a/pkg/cloudinit/metadata.go b/pkg/cloudinit/metadata.go
index 100fe372..39926033 100644
--- a/pkg/cloudinit/metadata.go
+++ b/pkg/cloudinit/metadata.go
@@ -1,5 +1,5 @@
 /*
-Copyright 2023 IONOS Cloud.
+Copyright 2023-2024 IONOS Cloud.
 
 Licensed under the Apache License, Version 2.0 (the "License");
 you may not use this file except in compliance with the License.
diff --git a/pkg/cloudinit/metadata_test.go b/pkg/cloudinit/metadata_test.go
index 20db0f01..aea9778f 100644
--- a/pkg/cloudinit/metadata_test.go
+++ b/pkg/cloudinit/metadata_test.go
@@ -1,5 +1,5 @@
 /*
-Copyright 2023 IONOS Cloud.
+Copyright 2023-2024 IONOS Cloud.
 
 Licensed under the Apache License, Version 2.0 (the "License");
 you may not use this file except in compliance with the License.
diff --git a/pkg/scope/machine.go b/pkg/scope/machine.go
index 59084ef9..9bee7e54 100644
--- a/pkg/scope/machine.go
+++ b/pkg/scope/machine.go
@@ -1,5 +1,5 @@
 /*
-Copyright 2023 IONOS Cloud.
+Copyright 2023-2024 IONOS Cloud.
 
 Licensed under the Apache License, Version 2.0 (the "License");
 you may not use this file except in compliance with the License.
diff --git a/test/e2e/config/proxmox-ci.yaml b/test/e2e/config/proxmox-ci.yaml
index 5b43564b..f8cd94a7 100644
--- a/test/e2e/config/proxmox-ci.yaml
+++ b/test/e2e/config/proxmox-ci.yaml
@@ -66,7 +66,7 @@ providers:
   - name: proxmox
     type: InfrastructureProvider
     versions:
-      - name: v0.5.99
+      - name: v0.6.99
         value: "${PWD}/config/default"
         replacements:
           - old: ghcr.io/ionos-cloud/cluster-api-provider-proxmox:dev
diff --git a/test/e2e/config/proxmox-dev.yaml b/test/e2e/config/proxmox-dev.yaml
index 92a81beb..8cf3b657 100644
--- a/test/e2e/config/proxmox-dev.yaml
+++ b/test/e2e/config/proxmox-dev.yaml
@@ -66,7 +66,7 @@ providers:
   - name: proxmox
     type: InfrastructureProvider
     versions:
-      - name: v0.5.99
+      - name: v0.6.99
         value: "${PWD}/config/default"
         replacements:
           - old: ghcr.io/ionos-cloud/cluster-api-provider-proxmox:dev