Here’s the latest update for Honkai: Star Rail as of August 2025:

Version 3.4 – For the Sun is Set to Die

• Released: Early July 2025 (July 1 UTC‑5 / July 2 UTC+)
• New Characters: Phainon, Saber, and Archer were added to the playable roster. Game8 Gaming WalkthroughsIndiatimes
• Fate/stay night Collaboration: Introduced the “Sweet Dreams and the Holy Grail” storyline—with Archer available as a free login bonus, along with special Light Cones like A Thankless Coronation (Saber) and The Hell Where Ideals Burn (Archer). Indiatimes
• Gameplay Tweaks: Buffs were applied to characters like Jingliu, Silver Wolf, Kafka, and Blade to enhance performance. Game8 Gaming Walkthroughs
• New Trailblaze Mission and other quality-of-life improvements were also included. Pocket TacticsIndiatimes

Looking Ahead: Version 3.5 – Before Their Deaths

• Scheduled Release: August 13, 2025
• New Characters:
  • Hysilens (Physical, Nihility): Revives DoT (Damage-over-Time) builds with zone-based effects that amplify DoT skills. TechRadar
  • Cerydra (Wind, Harmony): A support strategist who can replicate ally skills, adding team-composition variety. TechRadar
• Rerun Banners: Kafka and Silver Wolf return, exciting many longtime players. TechRadarThe Times of India
• New Content: Includes further progression in the Amphoreus arc, mini-games like Chrysos Maze Grand Restaurant, and Old Brews & New Friends bartending event. TechRadar

Summary Table