diff --git a/pkgs/development/compilers/rust/1_98.nix b/pkgs/development/compilers/rust/1_98.nix
new file mode 100644
index 000000000000..66fd5d234524
--- /dev/null
+++ b/pkgs/development/compilers/rust/1_98.nix
@@ -0,0 +1,104 @@
+# New rust versions should first go to staging.
+# Things to check after updating:
+# 1. Rustc should produce rust binaries on x86_64-linux, aarch64-linux and x86_64-darwin:
+#    i.e. nix-shell -p fd or @GrahamcOfBorg build fd on github
+#    This testing can be also done by other volunteers as part of the pull
+#    request review, in case platforms cannot be covered.
+# 2. The LLVM version used for building should match with rust upstream.
+#    Check the version number in the src/llvm-project git submodule in:
+#    https://github.com/rust-lang/rust/blob/<version-tag>/.gitmodules
+
+# Note: The way this is structured is:
+# 1. Import default.nix, and apply arguments as needed for the file-defined function
+# 2. Implicitly, all arguments to this file are applied to the function that is imported.
+#    if you want to add an argument to default.nix's top-level function, but not the function
+#    it instantiates, add it to the `removeAttrs` call below.
+{
+  stdenv,
+  lib,
+  newScope,
+  callPackage,
+  pkgsBuildTarget,
+  pkgsBuildBuild,
+  pkgsBuildHost,
+  pkgsHostTarget,
+  pkgsTargetTarget,
+  makeRustPlatform,
+  wrapRustcWith,
+  llvmPackages,
+  llvm,
+  cargo-auditable,
+  wrapCCWith,
+  overrideCC,
+  fetchpatch,
+}@args:
+let
+  llvmSharedFor =
+    pkgSet:
+    pkgSet.llvmPackages.libllvm.override (
+      {
+        enableSharedLibraries = true;
+      }
+      // lib.optionalAttrs (stdenv.targetPlatform.useLLVM or false) {
+        # Force LLVM to compile using clang + LLVM libs when targeting pkgsLLVM
+        stdenv = pkgSet.stdenv.override {
+          allowedRequisites = null;
+          cc = pkgSet.pkgsBuildHost.llvmPackages.clangUseLLVM;
+        };
+      }
+    );
+in
+import ./default.nix
+  {
+    rustcVersion = "1.98.1";
+    rustcSha256 = "sha256-3J+LkXsyRE1sesQ8wbQJAT06mmMzOLtgwUza4dFe5lo=";
+
+    llvmSharedForBuild = llvmSharedFor pkgsBuildBuild;
+    llvmSharedForHost = llvmSharedFor pkgsBuildHost;
+    llvmSharedForTarget = llvmSharedFor pkgsBuildTarget;
+
+    inherit llvmPackages cargo-auditable;
+
+    # For use at runtime
+    llvmShared = llvmSharedFor pkgsHostTarget;
+
+    # Note: the version MUST be the same version that we are building. Upstream
+    # ensures that each released compiler can compile itself:
+    # https://github.com/NixOS/nixpkgs/pull/351028#issuecomment-2438244363
+    bootstrapVersion = "1.98.1";
+
+    # fetch hashes by running `print-hashes.sh ${bootstrapVersion}`
+    bootstrapHashes = {
+      i686-unknown-linux-gnu = "22b82030ccbcb5c77f8740b06cb03a880ca9779e1b1ed9674eabb7b99eae55fc";
+      x86_64-unknown-linux-gnu = "24ba1338a2d35c5a3247936546429e163fa674d726102af18bdf624582c57aea";
+      x86_64-unknown-linux-musl = "4178195a7f39f2eeec01cc90d579707787a73c0f42d2bf943f78b8dbbac69c04";
+      arm-unknown-linux-gnueabihf = "c00bcf4ffe13e48f9fb89e5d643a58af1231baad6d189d1df5ca7b8d2ac71724";
+      armv7-unknown-linux-gnueabihf = "50fcf1a6832d0709edec54b022453902ff88cfe4d0532826b42a51913b1462df";
+      aarch64-unknown-linux-gnu = "f00ba576645cef658e1deed96fab8f707958e9d58808b16343448b5d1c4f7407";
+      aarch64-unknown-linux-musl = "d134f371064241e21ad9dba15887b9ba805410948e05b93284d05a68b943950d";
+      x86_64-apple-darwin = "443a1165abbac41c9143b83ff837c0fb1d8c03d2f8fb1da27427bc9fc646aad3";
+      aarch64-apple-darwin = "cfc171d8120d401b10a1028c52646dd8e00e3e66852f949061ce087845f55afd";
+      powerpc64-unknown-linux-gnu = "a261153ab51f3d1dacde9455f7180110a73c7a956713d19b375a66750928db0b";
+      powerpc64le-unknown-linux-gnu = "8fe46e66f8e28d6ba6d40dcb127a0bd0454b7a1fb6a6bf43b97f55cb64e18897";
+      powerpc64le-unknown-linux-musl = "fa49cfe9c5fb146901c35ce8652b59f673fa5158a8be3d72dc5cec0ccd4f6928";
+      riscv64gc-unknown-linux-gnu = "df44f22fa550f0df5cd32230bd0712e7ce4a9ac9d77f02a33ac105317e0689c4";
+      s390x-unknown-linux-gnu = "07a2d8eecad17d2015c7eaa7972ec4e1ada617195bbbb5f6cf8f36b29e5dadd0";
+      loongarch64-unknown-linux-gnu = "16c60c1e0612acc52618f9ae7d44486554d63ef9649a3a0516c75e100870dab9";
+      loongarch64-unknown-linux-musl = "dd9bfa7281725faf5c95f6be30470f499efcbf81cb0b8b71e7305150291095d0";
+      x86_64-unknown-freebsd = "a89cdfd2c7099a5d25c2d398b00fe8cbf641b156b5af75ea572db3f0142b27dd";
+    };
+
+    selectRustPackage = pkgs: pkgs.rust_1_98;
+  }
+
+  (
+    removeAttrs args [
+      "llvmPackages"
+      "llvm"
+      "wrapCCWith"
+      "overrideCC"
+      "pkgsHostTarget"
+      "fetchpatch"
+      "cargo-auditable"
+    ]
+  )
diff --git a/pkgs/top-level/all-packages.nix b/pkgs/top-level/all-packages.nix
index 764f811b98dd..3c3176600551 100644
--- a/pkgs/top-level/all-packages.nix
+++ b/pkgs/top-level/all-packages.nix
@@ -4322,6 +4322,7 @@ with pkgs;
 
   rust_1_95 = callPackage ../development/compilers/rust/1_95.nix { };
   rust_1_97 = callPackage ../development/compilers/rust/1_97.nix { };
+  rust_1_98 = callPackage ../development/compilers/rust/1_98.nix { };
   rust = rust_1_95;
 
   mrustc = callPackage ../development/compilers/mrustc { };
@@ -4330,6 +4331,7 @@ with pkgs;
 
   rustPackages_1_95 = rust_1_95.packages.stable;
   rustPackages_1_97 = rust_1_97.packages.stable;
+  rustPackages_1_98 = rust_1_98.packages.stable;
   rustPackages = rustPackages_1_95;
 
   inherit (rustPackages)