diff --git a/.github/workflows/ci.generate.ts b/.github/workflows/ci.generate.ts
index b59659e624..41abf17370 100755
--- a/.github/workflows/ci.generate.ts
+++ b/.github/workflows/ci.generate.ts
@@ -17,7 +17,7 @@ const Runners = (() => {
 })();
 // bump the number at the start when you want to purge the cache
 const prCacheKeyPrefix =
-  "21-cargo-target-${{ matrix.os }}-${{ matrix.profile }}-${{ matrix.job }}-";
+  "22-cargo-target-${{ matrix.os }}-${{ matrix.profile }}-${{ matrix.job }}-";
 
 const installPkgsCommand =
   "sudo apt-get install --no-install-recommends debootstrap clang-15 lld-15";
@@ -476,7 +476,7 @@ const ci = {
               "~/.cargo/git/db",
             ].join("\n"),
             key:
-              "21-cargo-home-${{ matrix.os }}-${{ hashFiles('Cargo.lock') }}",
+              "22-cargo-home-${{ matrix.os }}-${{ hashFiles('Cargo.lock') }}",
           },
         },
         {
diff --git a/.github/workflows/ci.yml b/.github/workflows/ci.yml
index 501feea016..c70590d61b 100644
--- a/.github/workflows/ci.yml
+++ b/.github/workflows/ci.yml
@@ -290,7 +290,7 @@ jobs:
             ~/.cargo/registry/index
             ~/.cargo/registry/cache
             ~/.cargo/git/db
-          key: '21-cargo-home-${{ matrix.os }}-${{ hashFiles(''Cargo.lock'') }}'
+          key: '22-cargo-home-${{ matrix.os }}-${{ hashFiles(''Cargo.lock'') }}'
         if: '!(github.event_name == ''pull_request'' && matrix.skip_pr)'
       - name: Restore cache build output (PR)
         uses: actions/cache/restore@v3
@@ -302,7 +302,7 @@ jobs:
             !./target/*/*.zip
             !./target/*/*.tar.gz
           key: never_saved
-          restore-keys: '21-cargo-target-${{ matrix.os }}-${{ matrix.profile }}-${{ matrix.job }}-'
+          restore-keys: '22-cargo-target-${{ matrix.os }}-${{ matrix.profile }}-${{ matrix.job }}-'
       - name: Apply and update mtime cache
         if: '!(github.event_name == ''pull_request'' && matrix.skip_pr) && (!startsWith(github.ref, ''refs/tags/''))'
         uses: ./.github/mtime_cache
@@ -578,7 +578,7 @@ jobs:
             !./target/*/gn_out
             !./target/*/*.zip
             !./target/*/*.tar.gz
-          key: '21-cargo-target-${{ matrix.os }}-${{ matrix.profile }}-${{ matrix.job }}-${{ github.sha }}'
+          key: '22-cargo-target-${{ matrix.os }}-${{ matrix.profile }}-${{ matrix.job }}-${{ github.sha }}'
   publish-canary:
     name: publish canary
     runs-on: ubuntu-22.04
diff --git a/Cargo.lock b/Cargo.lock
index e2480d54c7..d515dbd72d 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -5511,9 +5511,9 @@ dependencies = [
 
 [[package]]
 name = "v8"
-version = "0.69.0"
+version = "0.70.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "687e14c2535fe5749098994fd67773962050abe64bcc6a8c92dbf7221b746f49"
+checksum = "ab13e022340b67561836bbb90ceeebbfca7e35fbc05471ceff5ce099e5a754a3"
 dependencies = [
  "bitflags 1.3.2",
  "fslock",
diff --git a/Cargo.toml b/Cargo.toml
index 0602f2a5f4..3b0a0abf2a 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -41,7 +41,7 @@ license = "MIT"
 repository = "https://github.com/denoland/deno"
 
 [workspace.dependencies]
-v8 = { version = "0.69.0", default-features = false }
+v8 = { version = "0.70.0", default-features = false }
 deno_ast = { version = "0.26.0", features = ["transpiling"] }
 
 deno_core = { version = "0.181.0", path = "./core" }
diff --git a/cli/tests/testdata/run/heapstats.js.out b/cli/tests/testdata/run/heapstats.js.out
index b75a755f8e..9542663331 100644
--- a/cli/tests/testdata/run/heapstats.js.out
+++ b/cli/tests/testdata/run/heapstats.js.out
@@ -1,2 +1,2 @@
-Allocated: 4MB
-Freed: -4MB
+Allocated: 8MB
+Freed: -8MB
diff --git a/core/runtime.rs b/core/runtime.rs
index 923caaea9a..bae6a40db7 100644
--- a/core/runtime.rs
+++ b/core/runtime.rs
@@ -3165,7 +3165,7 @@ pub mod tests {
   #[test]
   fn test_heap_limits() {
     let create_params =
-      v8::Isolate::create_params().heap_limits(0, 3 * 1024 * 1024);
+      v8::Isolate::create_params().heap_limits(0, 5 * 1024 * 1024);
     let mut runtime = JsRuntime::new(RuntimeOptions {
       create_params: Some(create_params),
       ..Default::default()
@@ -3209,7 +3209,7 @@ pub mod tests {
   #[test]
   fn test_heap_limit_cb_multiple() {
     let create_params =
-      v8::Isolate::create_params().heap_limits(0, 3 * 1024 * 1024);
+      v8::Isolate::create_params().heap_limits(0, 5 * 1024 * 1024);
     let mut runtime = JsRuntime::new(RuntimeOptions {
       create_params: Some(create_params),
       ..Default::default()