diff --git a/conda_forge_tick/hashing.py b/conda_forge_tick/hashing.py
index dd6649536..a8ab1c9a6 100644
--- a/conda_forge_tick/hashing.py
+++ b/conda_forge_tick/hashing.py
@@ -2,12 +2,18 @@
 import hashlib
 import math
 import time
-from multiprocessing import Pipe, Process
+from multiprocessing import Pipe, Process, connection
 
 import requests
 
 
-def _hash_url(url, hash_type, progress=False, conn=None, timeout=None):
+def _hash_url(
+    url: str,
+    hash_type: str,
+    progress: bool = False,
+    conn: connection.Connection | None = None,
+    timeout: int | None = None,
+) -> str | None:
     _hash = None
     try:
         ha = getattr(hashlib, hash_type)()
@@ -68,7 +74,12 @@ def _hash_url(url, hash_type, progress=False, conn=None, timeout=None):
 
 
 @functools.lru_cache(maxsize=1024)
-def hash_url(url, timeout=None, progress=False, hash_type="sha256"):
+def hash_url(
+    url: str,
+    timeout: int | None = None,
+    progress: bool = False,
+    hash_type: str = "sha256",
+) -> str | None:
     """Hash a url with a timeout.
 
     Parameters
diff --git a/conda_forge_tick/migrators/core.py b/conda_forge_tick/migrators/core.py
index 48f0c014b..de18203c4 100644
--- a/conda_forge_tick/migrators/core.py
+++ b/conda_forge_tick/migrators/core.py
@@ -5,6 +5,7 @@
 import logging
 import re
 import typing
+from pathlib import Path
 from typing import Any, List, Sequence, Set
 
 import dateutil.parser
@@ -14,7 +15,7 @@
 from conda_forge_tick.lazy_json_backends import LazyJson
 from conda_forge_tick.make_graph import make_outputs_lut_from_graph
 from conda_forge_tick.path_lengths import cyclic_topological_sort
-from conda_forge_tick.update_recipe import update_build_number
+from conda_forge_tick.update_recipe import update_build_number, v2
 from conda_forge_tick.utils import (
     frozen_to_json_friendly,
     get_bot_run_url,
@@ -560,7 +561,7 @@ def order(
         }
         return cyclic_topological_sort(graph, top_level)
 
-    def set_build_number(self, filename: str) -> None:
+    def set_build_number(self, filename: str | Path) -> None:
         """Bump the build number of the specified recipe.
 
         Parameters
@@ -568,17 +569,19 @@ def set_build_number(self, filename: str) -> None:
         filename : str
             Path the the meta.yaml
         """
-        with open(filename) as f:
-            raw = f.read()
+        filename = Path(filename)
+        if filename.name == "recipe.yaml":
+            filename.write_text(v2.update_build_number(filename, self.new_build_number))
+        else:
+            raw = filename.read_text()
 
-        new_myaml = update_build_number(
-            raw,
-            self.new_build_number,
-            build_patterns=self.build_patterns,
-        )
+            new_myaml = update_build_number(
+                raw,
+                self.new_build_number,
+                build_patterns=self.build_patterns,
+            )
 
-        with open(filename, "w") as f:
-            f.write(new_myaml)
+            filename.write_text(new_myaml)
 
     def new_build_number(self, old_number: int) -> int:
         """Determine the new build number to use.
diff --git a/conda_forge_tick/migrators/version.py b/conda_forge_tick/migrators/version.py
index 9cf8b8186..afd500803 100644
--- a/conda_forge_tick/migrators/version.py
+++ b/conda_forge_tick/migrators/version.py
@@ -5,6 +5,7 @@
 import random
 import typing
 import warnings
+from pathlib import Path
 from typing import Any, List, Sequence
 
 import conda.exceptions
@@ -14,9 +15,8 @@
 from conda_forge_tick.contexts import FeedstockContext
 from conda_forge_tick.migrators.core import Migrator
 from conda_forge_tick.models.pr_info import MigratorName
-from conda_forge_tick.os_utils import pushd
 from conda_forge_tick.update_deps import get_dep_updates_and_hints
-from conda_forge_tick.update_recipe import update_version
+from conda_forge_tick.update_recipe import update_version, v2
 from conda_forge_tick.utils import get_keys_default, sanitize_string
 
 if typing.TYPE_CHECKING:
@@ -195,29 +195,37 @@ def migrate(
     ) -> "MigrationUidTypedDict":
         version = attrs["new_version"]
 
-        with open(os.path.join(recipe_dir, "meta.yaml")) as fp:
-            raw_meta_yaml = fp.read()
+        recipe_dir = Path(recipe_dir)
+        meta_yaml = recipe_dir / "meta.yaml"
+        recipe_yaml = recipe_dir / "recipe.yaml"
+        if meta_yaml.exists():
+            raw_meta_yaml = meta_yaml.read_text()
 
-        updated_meta_yaml, errors = update_version(
-            raw_meta_yaml,
-            version,
-            hash_type=hash_type,
-        )
+            updated_meta_yaml, errors = update_version(
+                raw_meta_yaml,
+                version,
+                hash_type=hash_type,
+            )
 
-        if len(errors) == 0 and updated_meta_yaml is not None:
-            with pushd(recipe_dir):
-                with open("meta.yaml", "w") as fp:
-                    fp.write(updated_meta_yaml)
-                self.set_build_number("meta.yaml")
+            if len(errors) == 0 and updated_meta_yaml is not None:
+                meta_yaml.write_text(updated_meta_yaml)
+                self.set_build_number(meta_yaml)
 
-            return super().migrate(recipe_dir, attrs)
-        else:
+        elif recipe_yaml.exists():
+            updated_recipe, errors = v2.update_version(recipe_yaml, version)
+            if len(errors) == 0 and updated_recipe is not None:
+                recipe_yaml.write_text(updated_recipe)
+                self.set_build_number(recipe_yaml)
+
+        if len(errors) != 0:
             raise VersionMigrationError(
                 _fmt_error_message(
                     errors,
                     version,
                 )
             )
+        else:
+            return super().migrate(recipe_dir, attrs)
 
     def pr_body(self, feedstock_ctx: FeedstockContext, add_label_text=False) -> str:
         if feedstock_ctx.feedstock_name in self.effective_graph.nodes:
diff --git a/conda_forge_tick/update_recipe/v2/__init__.py b/conda_forge_tick/update_recipe/v2/__init__.py
new file mode 100644
index 000000000..f097d437c
--- /dev/null
+++ b/conda_forge_tick/update_recipe/v2/__init__.py
@@ -0,0 +1,4 @@
+from .build_number import update_build_number
+from .version import update_version
+
+__all__ = ["update_build_number", "update_version"]
diff --git a/conda_forge_tick/update_recipe/v2/build_number.py b/conda_forge_tick/update_recipe/v2/build_number.py
new file mode 100644
index 000000000..d7e07d376
--- /dev/null
+++ b/conda_forge_tick/update_recipe/v2/build_number.py
@@ -0,0 +1,61 @@
+from __future__ import annotations
+
+import logging
+from typing import TYPE_CHECKING, Any, Literal
+
+from conda_forge_tick.update_recipe.v2.yaml import _dump_yaml_to_str, _load_yaml
+
+if TYPE_CHECKING:
+    from pathlib import Path
+
+logger = logging.getLogger(__name__)
+
+HashType = Literal["md5", "sha256"]
+
+
+def _update_build_number_in_context(
+    recipe: dict[str, Any], new_build_number: int
+) -> bool:
+    for key in recipe.get("context", {}):
+        if key.startswith("build_") or key == "build":
+            recipe["context"][key] = new_build_number
+            return True
+    return False
+
+
+def _update_build_number_in_recipe(
+    recipe: dict[str, Any], new_build_number: int
+) -> bool:
+    is_modified = False
+    if "build" in recipe and "number" in recipe["build"]:
+        recipe["build"]["number"] = new_build_number
+        is_modified = True
+
+    if "outputs" in recipe:
+        for output in recipe["outputs"]:
+            if "build" in output and "number" in output["build"]:
+                output["build"]["number"] = new_build_number
+                is_modified = True
+
+    return is_modified
+
+
+def update_build_number(file: Path, new_build_number: int = 0) -> str:
+    """
+    Update the build number in the recipe file.
+
+    Arguments:
+    ----------
+    * `file` - The path to the recipe file.
+    * `new_build_number` - The new build number to use. (default: 0)
+
+    Returns:
+    --------
+    * The updated recipe as a string.
+    """
+    data = _load_yaml(file)
+    build_number_modified = _update_build_number_in_context(data, new_build_number)
+    if not build_number_modified:
+        _update_build_number_in_recipe(data, new_build_number)
+
+    return _dump_yaml_to_str(data)
diff --git a/conda_forge_tick/update_recipe/v2/conditional_list.py b/conda_forge_tick/update_recipe/v2/conditional_list.py
new file mode 100644
index 000000000..5b0a08cdc
--- /dev/null
+++ b/conda_forge_tick/update_recipe/v2/conditional_list.py
@@ -0,0 +1,69 @@
+from __future__ import annotations
+
+from typing import TYPE_CHECKING, Any, Generic, List, TypeVar, Union, cast
+
+if TYPE_CHECKING:
+    from collections.abc import Callable, Generator
+
+T = TypeVar("T")
+K = TypeVar("K")
+
+
+class IfStatement(Generic[T]):
+    if_: Any
+    then: T | list[T]
+    else_: T | list[T] | None
+
+
+ConditionalList = Union[T, IfStatement[T], List[Union[T, IfStatement[T]]]]
+
+
+def visit_conditional_list(  # noqa: C901
+    value: T | IfStatement[T] | list[T | IfStatement[T]],
+    evaluator: Callable[[Any], bool] | None = None,
+) -> Generator[T]:
+    """
+    A function that yields individual branches of a conditional list.
+
+    Arguments
+    ---------
+    * `value` - The value to evaluate
+    * `evaluator` - An optional evaluator to evaluate the `if` expression.
+
+    Returns
+    -------
+    A generator that yields the individual branches.
+    """
+
+    def yield_from_list(value: list[K] | K) -> Generator[K]:
+        if isinstance(value, list):
+            yield from value
+        else:
+            yield value
+
+    if not isinstance(value, list):
+        value = [value]
+
+    for element in value:
+        if isinstance(element, dict):
+            if (expr := element.get("if", None)) is not None:
+                then = element.get("then")
+                otherwise = element.get("else")
+                # Evaluate the if expression if the evaluator is provided
+                if evaluator:
+                    if evaluator(expr):
+                        yield from yield_from_list(then)
+                    elif otherwise:
+                        yield from yield_from_list(otherwise)
+                # Otherwise, just yield the branches
+                else:
+                    yield from yield_from_list(then)
+                    if otherwise:
+                        yield from yield_from_list(otherwise)
+            else:
+                # In this case its not an if statement
+                yield cast(T, element)
+        # If the element is not a dictionary, just yield it
+        else:
+            # (tim) I get a pyright error here, but I don't know how to fix it
+            yield cast(T, element)
diff --git a/conda_forge_tick/update_recipe/v2/context.py b/conda_forge_tick/update_recipe/v2/context.py
new file mode 100644
index 000000000..cb86d8066
--- /dev/null
+++ b/conda_forge_tick/update_recipe/v2/context.py
@@ -0,0 +1,19 @@
+import jinja2
+
+
+def load_recipe_context(
+    context: dict[str, str], jinja_env: jinja2.Environment
+) -> dict[str, str]:
+    """
+    Load all string values from the context dictionary as Jinja2 templates.
+    Use linux-64 as default target_platform, build_platform, and mpi.
+    """
+    # Process each key-value pair in the dictionary
+    for key, value in context.items():
+        # If the value is a string, render it as a template
+        if isinstance(value, str):
+            template = jinja_env.from_string(value)
+            rendered_value = template.render(context)
+            context[key] = rendered_value
+
+    return context
diff --git a/conda_forge_tick/update_recipe/v2/jinja/__init__.py b/conda_forge_tick/update_recipe/v2/jinja/__init__.py
new file mode 100644
index 000000000..7d3fad5a0
--- /dev/null
+++ b/conda_forge_tick/update_recipe/v2/jinja/__init__.py
@@ -0,0 +1,3 @@
+from .jinja import jinja_env
+
+__all__ = ["jinja_env"]
diff --git a/conda_forge_tick/update_recipe/v2/jinja/filters.py b/conda_forge_tick/update_recipe/v2/jinja/filters.py
new file mode 100644
index 000000000..132771619
--- /dev/null
+++ b/conda_forge_tick/update_recipe/v2/jinja/filters.py
@@ -0,0 +1,28 @@
+from __future__ import annotations
+
+from conda_forge_tick.update_recipe.v2.jinja.utils import _MissingUndefined
+
+
+def _version_to_build_string(some_string: str | _MissingUndefined) -> str:
+    """
+    Converts some version by removing the . character and returning only the first two elements of the version.
+    If piped value is undefined, it returns the undefined value as is.
+    """
+    if isinstance(some_string, _MissingUndefined):
+        return f"{some_string._undefined_name}_version_to_build_string"  # noqa: SLF001
+    # We first split the string by whitespace and take the first part
+    split = some_string.split()[0] if some_string.split() else some_string
+    # We then split the string by . and take the first two parts
+    parts = split.split(".")
+    major = parts[0] if len(parts) > 0 else ""
+    minor = parts[1] if len(parts) > 1 else ""
+    return f"{major}{minor}"
+
+
+def _bool(value: str) -> bool:
+    return bool(value)
+
+
+def _split(s: str, sep: str | None = None) -> list[str]:
+    """Filter that split a string by a separator"""
+    return s.split(sep)
diff --git a/conda_forge_tick/update_recipe/v2/jinja/jinja.py b/conda_forge_tick/update_recipe/v2/jinja/jinja.py
new file mode 100644
index 000000000..fa3cb89ab
--- /dev/null
+++ b/conda_forge_tick/update_recipe/v2/jinja/jinja.py
@@ -0,0 +1,94 @@
+from __future__ import annotations
+
+from typing import TypedDict
+
+import jinja2
+from jinja2.sandbox import SandboxedEnvironment
+
+from conda_forge_tick.update_recipe.v2.jinja.filters import (
+    _bool,
+    _split,
+    _version_to_build_string,
+)
+from conda_forge_tick.update_recipe.v2.jinja.objects import (
+    _stub_compatible_pin,
+    _stub_is_linux,
+    _stub_is_unix,
+    _stub_is_win,
+    _stub_match,
+    _stub_subpackage_pin,
+    _StubEnv,
+)
+from conda_forge_tick.update_recipe.v2.jinja.utils import _MissingUndefined
+
+# from conda_forge_tick.update_recipe.v2.loader import load_yaml
+
+
+class RecipeWithContext(TypedDict, total=False):
+    context: dict[str, str]
+
+
+def jinja_env() -> SandboxedEnvironment:
+    """
+    Create a `rattler-build` specific Jinja2 environment with modified syntax.
+    Target platform, build platform, and mpi are set to linux-64 by default.
+    """
+    env = SandboxedEnvironment(
+        variable_start_string="${{",
+        variable_end_string="}}",
+        trim_blocks=True,
+        lstrip_blocks=True,
+        autoescape=jinja2.select_autoescape(default_for_string=False),
+        undefined=_MissingUndefined,
+    )
+
+    env_obj = _StubEnv()
+
+    # inject rattler-build recipe functions in jinja environment
+    env.globals.update(
+        {
+            "compiler": lambda x: x + "_compiler_stub",
+            "stdlib": lambda x: x + "_stdlib_stub",
+            "pin_subpackage": _stub_subpackage_pin,
+            "pin_compatible": _stub_compatible_pin,
+            "cdt": lambda *args, **kwargs: "cdt_stub",  # noqa: ARG005
+            "env": env_obj,
+            "match": _stub_match,
+            "is_unix": _stub_is_unix,
+            "is_win": _stub_is_win,
+            "is_linux": _stub_is_linux,
+            "unix": True,
+            "linux": True,
+            "target_platform": "linux-64",
+            "build_platform": "linux-64",
+            "mpi": "mpi",
+        }
+    )
+
+    # inject rattler-build recipe filters in jinja environment
+    env.filters.update(
+        {
+            "version_to_buildstring": _version_to_build_string,
+            "split": _split,
+            "bool": _bool,
+        }
+    )
+    return env
+
+
+def load_recipe_context(
+    context: dict[str, str], jinja_env: jinja2.Environment
+) -> dict[str, str]:
+    """
+    Load all string values from the context dictionary as Jinja2 templates.
+    Use linux-64 as default target_platform, build_platform, and mpi.
+    """
+    # Process each key-value pair in the dictionary
+    for key, value in context.items():
+        # If the value is a string, render it as a template
+        if isinstance(value, str):
+            template = jinja_env.from_string(value)
+            rendered_value = template.render(context)
+            context[key] = rendered_value
+
+    return context
diff --git a/conda_forge_tick/update_recipe/v2/jinja/objects.py b/conda_forge_tick/update_recipe/v2/jinja/objects.py
new file mode 100644
index 000000000..32e64bab6
--- /dev/null
+++ b/conda_forge_tick/update_recipe/v2/jinja/objects.py
@@ -0,0 +1,35 @@
+from __future__ import annotations
+
+
+class _StubEnv:
+    """A class to represent the env object used in rattler-build recipe."""
+
+    def get(self, env_var: str, default: str | None = None) -> str:  # noqa: ARG002
+        return f"""env_"{env_var}" """
+
+    def exists(self, env_var: str) -> str:
+        return f"""env_exists_"{env_var}" """
+
+
+def _stub_compatible_pin(*args, **kwargs) -> str:  # noqa: ARG001, ANN003, ANN002
+    return f"compatible_pin {args[0]}"
+
+
+def _stub_subpackage_pin(*args, **kwargs) -> str:  # noqa: ARG001, ANN003, ANN002
+    return f"subpackage_pin {args[0]}"
+
+
+def _stub_match(*args, **kwargs) -> str:  # noqa: ARG001, ANN003, ANN002
+    return f"match {args[0]}"
+
+
+def _stub_is_unix(platform: str) -> str:
+    return f"is_unix {platform}"
+
+
+def _stub_is_win(platform: str) -> str:
+    return f"is_win {platform}"
+
+
+def _stub_is_linux(platform: str) -> str:
+    return f"is_linux {platform}"
diff --git a/conda_forge_tick/update_recipe/v2/jinja/utils.py b/conda_forge_tick/update_recipe/v2/jinja/utils.py
new file mode 100644
index 000000000..dc688e937
--- /dev/null
+++ b/conda_forge_tick/update_recipe/v2/jinja/utils.py
@@ -0,0 +1,11 @@
+from jinja2 import DebugUndefined
+
+
+class _MissingUndefined(DebugUndefined):
+    def __str__(self) -> str:
+        """
+        By default, `DebugUndefined` return values in the form `{{ value }}`.
+        `rattler-build` has a different syntax, so we need to override this method,
+        and return the value in the form `${{ value }}`.
+        """
+        return f"${super().__str__()}"
diff --git a/conda_forge_tick/update_recipe/v2/source.py b/conda_forge_tick/update_recipe/v2/source.py
new file mode 100644
index 000000000..7e6b5d66a
--- /dev/null
+++ b/conda_forge_tick/update_recipe/v2/source.py
@@ -0,0 +1,50 @@
+import typing
+from typing import Any, Iterator, List, Mapping, NotRequired, TypedDict, Union
+
+from conda_forge_tick.update_recipe.v2.conditional_list import (
+    ConditionalList,
+    visit_conditional_list,
+)
+
+OptionalUrlList = Union[str, List[str], None]
+
+
+class Source(TypedDict):
+    url: NotRequired[str | list[str]]
+    sha256: NotRequired[str]
+    md5: NotRequired[str]
+
+
+def get_all_sources(recipe: Mapping[Any, Any]) -> Iterator[Source]:
+    """
+    Get all sources from the recipe. This can be from a list of sources,
+    a single source, or conditional and its branches.
+
+    Arguments
+    ---------
+    * `recipe` - The recipe to inspect. This should be a yaml object.
+
+    Returns
+    -------
+    A list of source objects.
+    """
+    sources = recipe.get("source", None)
+    sources = typing.cast(ConditionalList[Source], sources)
+
+    # Try getting all url top-level sources
+    if sources is not None:
+        source_list = visit_conditional_list(sources, None)
+        yield from source_list
+
+    outputs = recipe.get("outputs", None)
+    if outputs is None:
+        return
+
+    outputs = visit_conditional_list(outputs, None)
+    for output in outputs:
+        sources = output.get("source", None)
+        sources = typing.cast(ConditionalList[Source], sources)
+        if sources is None:
+            continue
+        source_list = visit_conditional_list(sources, None)
+        yield from source_list
diff --git a/conda_forge_tick/update_recipe/v2/version.py b/conda_forge_tick/update_recipe/v2/version.py
new file mode 100644
index 000000000..76eb70e64
--- /dev/null
+++ b/conda_forge_tick/update_recipe/v2/version.py
@@ -0,0 +1,141 @@
+from __future__ import annotations
+
+import copy
+import logging
+from typing import TYPE_CHECKING, Literal
+
+from conda_forge_tick.update_recipe.v2.context import load_recipe_context
+from conda_forge_tick.update_recipe.v2.jinja import jinja_env
+from conda_forge_tick.update_recipe.v2.source import Source, get_all_sources
+from conda_forge_tick.update_recipe.v2.yaml import _dump_yaml_to_str, _load_yaml
+from conda_forge_tick.update_recipe.version import _try_url_and_hash_it
+
+if TYPE_CHECKING:
+    from pathlib import Path
+
+logger = logging.getLogger(__name__)
+
+HashType = Literal["md5", "sha256"]
+
+
+class CouldNotUpdateVersionError(Exception):
+    NO_CONTEXT = "Could not find context in recipe"
+    NO_VERSION = "Could not find version in recipe context"
+
+    def __init__(self, message: str = "Could not update version") -> None:
+        self.message = message
+        super().__init__(self.message)
+
+
+class HashError(Exception):
+    def __init__(self, url: str) -> None:
+        self.url = url
+        self.message = f"Could not hash {url}"
+        super().__init__(self.message)
+
+
+class Hash:
+    def __init__(self, hash_type: HashType, hash_value: str) -> None:
+        self.hash_type = hash_type
+        self.hash_value = hash_value
+
+    def __str__(self) -> str:
+        return f"{self.hash_type}: {self.hash_value}"
+
+
+def update_hash(source: Source, url: str, hash_: Hash | None) -> None:
+    """
+    Update the sha256 hash in the source dictionary.
+
+    Arguments:
+    ----------
+    * `source` - The source dictionary to update.
+    * `url` - The URL to download and hash (if no hash is provided).
+    * `hash_` - The hash to use. If not provided, the file will be downloaded and `sha256` hashed.
+    """
+    hash_type: HashType = hash_.hash_type if hash_ is not None else "sha256"
+    # delete all old hashes that we are not updating
+    all_hash_types: set[HashType] = {"md5", "sha256"}
+    for key in all_hash_types - {hash_type}:
+        if key in source:
+            del source[key]
+
+    if hash_ is not None:
+        source[hash_.hash_type] = hash_.hash_value
+    else:
+        # download and hash the file
+        logger.debug(f"Retrieving and hashing {url}")
+        new_hash = _try_url_and_hash_it(url, "sha256")
+        if new_hash is None:
+            logger.error(f"Could not hash {url}")
+            raise HashError(url)
+        source["sha256"] = new_hash
+
+
+def update_version(
+    file: Path, new_version: str, hash_: Hash | None
+) -> (str | None, set[str]):
+    """
+    Update the version in the recipe file.
+
+    Arguments:
+    ----------
+    * `file` - The path to the recipe file.
+    * `new_version` - The new version to use.
+    * `hash_type` - The hash type to use. If not provided, the file will be downloaded and `sha256` hashed.
+
+    Returns:
+    --------
+    * The updated recipe string (or None if there was an error).
+    * A set of errors that occurred during the update.
+    """
+
+    data = _load_yaml(file)
+
+    if "context" not in data:
+        return None, {CouldNotUpdateVersionError.NO_CONTEXT}
+    if "version" not in data["context"]:
+        return None, {CouldNotUpdateVersionError.NO_VERSION}
+
+    old_context = copy.deepcopy(data["context"])
+    data["context"]["version"] = new_version
+
+    CRAN_MIRROR = "https://cran.r-project.org"
+
+    # set up the jinja context
+    env = jinja_env()
+    context = copy.deepcopy(data.get("context", {}))
+    old_context_variables = load_recipe_context(old_context, env)
+    old_context_variables["cran_mirror"] = CRAN_MIRROR
+
+    new_context_variables = load_recipe_context(context, env)
+    # for r-recipes we add the default `cran_mirror` variable
+    new_context_variables["cran_mirror"] = CRAN_MIRROR
+
+    errors: set[str] = set()
+    for source in get_all_sources(data):
+        # render the whole URL and find the hash
+        if "url" not in source:
+            continue
+
+        url = source["url"]
+        if isinstance(url, list):
+            url = url[0]
+
+        template = env.from_string(url)
+        old_rendered_url = template.render(old_context_variables)
+        rendered_url = template.render(new_context_variables)
+
+        # nothing to do
+        if old_rendered_url == rendered_url:
+            continue
+
+        try:
+            update_hash(source, rendered_url, hash_)
+        except HashError:
+            errors.add(f"Could not hash {url}")
+
+    if errors:
+        return None, errors
+
+    return _dump_yaml_to_str(data), {}
diff --git a/conda_forge_tick/update_recipe/v2/yaml.py b/conda_forge_tick/update_recipe/v2/yaml.py
new file mode 100644
index 000000000..fd5990636
--- /dev/null
+++ b/conda_forge_tick/update_recipe/v2/yaml.py
@@ -0,0 +1,22 @@
+import io
+from pathlib import Path
+
+from ruamel.yaml import YAML
+
+yaml = YAML()
+yaml.preserve_quotes = True
+yaml.width = 320
+yaml.indent(mapping=2, sequence=4, offset=2)
+
+
+def _load_yaml(file: Path) -> dict:
+    """Load a YAML file."""
+    with file.open("r") as f:
+        return yaml.load(f)
+
+
+def _dump_yaml_to_str(data: dict) -> str:
+    """Dump a dictionary to a YAML string."""
+    with io.StringIO() as f:
+        yaml.dump(data, f)
+        return f.getvalue()
diff --git a/conda_forge_tick/update_recipe/version.py b/conda_forge_tick/update_recipe/version.py
index b3d709521..c9855db32 100644
--- a/conda_forge_tick/update_recipe/version.py
+++ b/conda_forge_tick/update_recipe/version.py
@@ -5,7 +5,7 @@
 import pprint
 import re
 import traceback
-from typing import Any, MutableMapping
+from typing import Any, MutableMapping, Optional, Set
 
 import jinja2
 import jinja2.sandbox
@@ -99,7 +99,7 @@ def _compile_all_selectors(cmeta: Any, src: str):
     return set(selectors)
 
 
-def _try_url_and_hash_it(url: str, hash_type: str):
+def _try_url_and_hash_it(url: str, hash_type: str) -> Optional[str]:
     logger.debug("downloading url: %s", url)
 
     try:
@@ -379,7 +379,9 @@ def _try_to_update_version(cmeta: Any, src: str, hash_type: str):
     return updated_version, errors
 
 
-def update_version(raw_meta_yaml, version, hash_type="sha256"):
+def update_version(
+    raw_meta_yaml: str, version: str, hash_type: str = "sha256"
+) -> (Optional[str], Set[str]):
     """Update the version in a recipe.
 
     Parameters
@@ -395,7 +397,7 @@ def update_version(raw_meta_yaml, version, hash_type="sha256"):
     -------
     updated_meta_yaml : str or None
         The updated meta.yaml. Will be None if there is an error.
-    errors : str of str
+    errors : set of str
         A set of strings giving any errors found when updating the
         version. The set will be empty if there were no errors.
     """
diff --git a/tests/recipe_v2/build_number/test_1/expected.yaml b/tests/recipe_v2/build_number/test_1/expected.yaml
new file mode 100644
index 000000000..f22fd1978
--- /dev/null
+++ b/tests/recipe_v2/build_number/test_1/expected.yaml
@@ -0,0 +1,10 @@
+# set the build number to something
+context:
+  build: 0
+
+package:
+  name: recipe_1
+  version: "0.1.0"
+
+build:
+  number: ${{ build }}
diff --git a/tests/recipe_v2/build_number/test_1/recipe.yaml b/tests/recipe_v2/build_number/test_1/recipe.yaml
new file mode 100644
index 000000000..5ea4da2af
--- /dev/null
+++ b/tests/recipe_v2/build_number/test_1/recipe.yaml
@@ -0,0 +1,10 @@
+# set the build number to something
+context:
+  build: 123
+
+package:
+  name: recipe_1
+  version: "0.1.0"
+
+build:
+  number: ${{ build }}
diff --git a/tests/recipe_v2/build_number/test_2/expected.yaml b/tests/recipe_v2/build_number/test_2/expected.yaml
new file mode 100644
index 000000000..3095c27dd
--- /dev/null
+++ b/tests/recipe_v2/build_number/test_2/expected.yaml
@@ -0,0 +1,11 @@
+# set the build number to something
+package:
+  name: recipe_1
+  version: "0.1.0"
+
+# set the build number to something directly in the recipe text
+build:
+  number: 0
+
+source:
+  - url: foo
diff --git a/tests/recipe_v2/build_number/test_2/recipe.yaml b/tests/recipe_v2/build_number/test_2/recipe.yaml
new file mode 100644
index 000000000..d0906a9a5
--- /dev/null
+++ b/tests/recipe_v2/build_number/test_2/recipe.yaml
@@ -0,0 +1,11 @@
+# set the build number to something
+package:
+  name: recipe_1
+  version: "0.1.0"
+
+# set the build number to something directly in the recipe text
+build:
+  number: 321
+
+source:
+- url: foo
diff --git a/tests/recipe_v2/version/test_1/expected.yaml b/tests/recipe_v2/version/test_1/expected.yaml
new file mode 100644
index 000000000..02ad23f80
--- /dev/null
+++ b/tests/recipe_v2/version/test_1/expected.yaml
@@ -0,0 +1,12 @@
+context:
+  name: xtensor
+  version: "0.25.0"
+
+
+package:
+  name: ${{ name|lower }}
+  version: ${{ version }}
+
+source:
+  url: https://github.com/xtensor-stack/xtensor/archive/${{ version }}.tar.gz
+  sha256: 32d5d9fd23998c57e746c375a544edf544b74f0a18ad6bc3c38cbba968d5e6c7
diff --git a/tests/recipe_v2/version/test_1/recipe.yaml b/tests/recipe_v2/version/test_1/recipe.yaml
new file mode 100644
index 000000000..ca0cf055a
--- /dev/null
+++ b/tests/recipe_v2/version/test_1/recipe.yaml
@@ -0,0 +1,12 @@
+context:
+  name: xtensor
+  version: "0.23.5"
+
+
+package:
+  name: ${{ name|lower }}
+  version: ${{ version }}
+
+source:
+  url: https://github.com/xtensor-stack/xtensor/archive/${{ version }}.tar.gz
+  sha256: 0811011e448628f0dfa6ebb5e3f76dc7bf6a15ee65ea9c5a277b12ea976d35bc
diff --git a/tests/recipe_v2/version/test_2/expected.yaml b/tests/recipe_v2/version/test_2/expected.yaml
new file mode 100644
index 000000000..e9a70d0f9
--- /dev/null
+++ b/tests/recipe_v2/version/test_2/expected.yaml
@@ -0,0 +1,15 @@
+context:
+  name: xtensor
+  version: "0.25.0"
+
+
+package:
+  name: ${{ name|lower }}
+  version: ${{ version }}
+
+source:
+  # please update the version here.
+  - if: target_platform == linux-64
+    then:
+      url: https://github.com/xtensor-stack/xtensor/archive/${{ version }}.tar.gz
+      sha256: 32d5d9fd23998c57e746c375a544edf544b74f0a18ad6bc3c38cbba968d5e6c7
diff --git a/tests/recipe_v2/version/test_2/recipe.yaml b/tests/recipe_v2/version/test_2/recipe.yaml
new file mode 100644
index 000000000..6de44d524
--- /dev/null
+++ b/tests/recipe_v2/version/test_2/recipe.yaml
@@ -0,0 +1,15 @@
+context:
+  name: xtensor
+  version: "0.23.5"
+
+
+package:
+  name: ${{ name|lower }}
+  version: ${{ version }}
+
+source:
+  # please update the version here.
+  - if: target_platform == linux-64
+    then:
+      url: https://github.com/xtensor-stack/xtensor/archive/${{ version }}.tar.gz
+      sha256: 0811011e448628f0dfa6ebb5e3f76dc7bf6a15ee65ea9c5a277b12ea976d35bc
diff --git a/tests/recipe_v2/version/test_3/expected.yaml b/tests/recipe_v2/version/test_3/expected.yaml
new file mode 100644
index 000000000..d6820f4bf
--- /dev/null
+++ b/tests/recipe_v2/version/test_3/expected.yaml
@@ -0,0 +1,11 @@
+context:
+  name: pytest-aio
+  version: 1.9.0
+
+package:
+  name: ${{ name|lower }}
+  version: ${{ version }}
+
+source:
+  url: https://pypi.io/packages/source/${{ name[0] }}/${{ name }}/${{ name.replace('-', '_') }}-${{ version }}.tar.gz
+  sha256: aa72e6ca4672b7f5a08ce44e7c6254dca988d3d578bf0c9485a47c3bff393ac1
diff --git a/tests/recipe_v2/version/test_3/recipe.yaml b/tests/recipe_v2/version/test_3/recipe.yaml
new file mode 100644
index 000000000..cad30b78f
--- /dev/null
+++ b/tests/recipe_v2/version/test_3/recipe.yaml
@@ -0,0 +1,11 @@
+context:
+  name: pytest-aio
+  version: 1.8.1
+
+package:
+  name: ${{ name|lower }}
+  version: ${{ version }}
+
+source:
+  url: https://pypi.io/packages/source/${{ name[0] }}/${{ name }}/${{ name.replace('-', '_') }}-${{ version }}.tar.gz
+  sha256: 97dcbc1c5ac991705f32bb2cf72f9ba94a8889fd0295d29ed4d7252b3e158684
diff --git a/tests/recipe_v2/version/test_4/expected.yaml b/tests/recipe_v2/version/test_4/expected.yaml
new file mode 100644
index 000000000..2cb6a9cd4
--- /dev/null
+++ b/tests/recipe_v2/version/test_4/expected.yaml
@@ -0,0 +1,14 @@
+context:
+  version: "1.1-30"
+  posix: ${{ 'm2' if win else '' }}
+  native: ${{ 'm2w64' if win else '' }}
+
+package:
+  name: r-systemfit
+  version: ${{ version|replace("-", "_") }}
+
+source:
+  url:
+    - ${{ cran_mirror }}/src/contrib/systemfit_${{ version }}.tar.gz
+    - ${{ cran_mirror }}/src/contrib/Archive/systemfit/systemfit_${{ version }}.tar.gz
+  sha256: 5994fbb81f1678325862414f58328cdc2c46d47efa1f23218e9416a4da431ce2
diff --git a/tests/recipe_v2/version/test_4/recipe.yaml b/tests/recipe_v2/version/test_4/recipe.yaml
new file mode 100644
index 000000000..fb35a82f5
--- /dev/null
+++ b/tests/recipe_v2/version/test_4/recipe.yaml
@@ -0,0 +1,14 @@
+context:
+  version: "1.1-26"
+  posix: ${{ 'm2' if win else '' }}
+  native: ${{ 'm2w64' if win else '' }}
+
+package:
+  name: r-systemfit
+  version: ${{ version|replace("-", "_") }}
+
+source:
+  url:
+    - ${{ cran_mirror }}/src/contrib/systemfit_${{ version }}.tar.gz
+    - ${{ cran_mirror }}/src/contrib/Archive/systemfit/systemfit_${{ version }}.tar.gz
+  sha256: a99a59787dc5556afe9a1a153f2a3a8047aa7d357aab450101e20ab1f329f758
diff --git a/tests/test_recipe_editing_v2.py b/tests/test_recipe_editing_v2.py
new file mode 100644
index 000000000..8adacdd92
--- /dev/null
+++ b/tests/test_recipe_editing_v2.py
@@ -0,0 +1,40 @@
+from pathlib import Path
+
+import pytest
+
+from conda_forge_tick.update_recipe.v2 import update_build_number, update_version
+
+
+@pytest.fixture
+def data_dir() -> Path:
+    return Path(__file__).parent / "recipe_v2"
+
+
+def test_build_number_mod(data_dir: Path) -> None:
+    tests = data_dir / "build_number"
+    result = update_build_number(tests / "test_1/recipe.yaml", 0)
+    expected = tests / "test_1/expected.yaml"
+    assert result == expected.read_text()
+
+    result = update_build_number(tests / "test_2/recipe.yaml", 0)
+    expected = tests / "test_2/expected.yaml"
+    assert result == expected.read_text()
+
+
+def test_version_mod(data_dir: Path) -> None:
+    tests = data_dir / "version"
+    test_recipes = [tests / "test_1/recipe.yaml", tests / "test_2/recipe.yaml"]
+    for recipe in test_recipes:
+        result = update_version(recipe, "0.25.0", None)[0]
+        expected = recipe.parent / "expected.yaml"
+        assert result == expected.read_text()
+
+    test_python = tests / "test_3/recipe.yaml"
+    result = update_version(test_python, "1.9.0", None)[0]
+    expected = test_python.parent / "expected.yaml"
+    assert result == expected.read_text()
+
+    test_cran = tests / "test_4/recipe.yaml"
+    result = update_version(test_cran, "1.1-30", None)[0]
+    expected = test_cran.parent / "expected.yaml"
+    assert result == expected.read_text()