diff --git a/pkgs/tools/misc/esptool/default.nix b/pkgs/tools/misc/esptool/default.nix
index 465e30e76157..d1d6bc1cb101 100644
--- a/pkgs/tools/misc/esptool/default.nix
+++ b/pkgs/tools/misc/esptool/default.nix
@@ -2,17 +2,31 @@
 
 python3.pkgs.buildPythonApplication rec {
   pname = "esptool";
-  version = "2.7";
+  version = "3.0";
 
   src = fetchFromGitHub {
     owner = "espressif";
     repo = "esptool";
     rev = "v${version}";
-    sha256 = "1p5hx0rhs986ffqz78rdxg7jayndsq632399xby39k17kvd3mb31";
+    sha256 = "1y022qlcdgdx5a88lkc3sqavklz494afbfyh100lp7xfk3f2mjln";
   };
 
-  checkInputs = with python3.pkgs; [ flake8 flake8-future-import flake8-import-order openssl ];
-  propagatedBuildInputs = with python3.pkgs; [ pyserial pyaes ecdsa ];
+  checkInputs = with python3.pkgs;
+    [ flake8 flake8-future-import flake8-import-order openssl ];
+  propagatedBuildInputs = with python3.pkgs;
+    [ pyserial pyaes ecdsa reedsolo bitstring cryptography ];
+
+  # wrapPythonPrograms will overwrite esptool.py with a bash script,
+  # but espefuse.py tries to import it. Since we don't add any binary paths,
+  # use patchPythonScript directly.
+  dontWrapPythonPrograms = true;
+  postFixup = ''
+    buildPythonPath "$out $pythonPath"
+    for f in $out/bin/*.py; do
+        echo "Patching $f"
+        patchPythonScript "$f"
+    done
+  '';
 
   meta = with stdenv.lib; {
     description = "ESP8266 and ESP32 serial bootloader utility";