diff --git a/pkgs/development/tools/misc/binutils/default.nix b/pkgs/development/tools/misc/binutils/default.nix
index 559268521460..58920d98ea6e 100644
--- a/pkgs/development/tools/misc/binutils/default.nix
+++ b/pkgs/development/tools/misc/binutils/default.nix
@@ -19,7 +19,7 @@
 let
   reuseLibs = enableShared && withAllTargets;
 
-  version = "2.34";
+  version = "2.35.1";
   basename = "binutils";
   # The targetPrefix prepended to binary names to allow multiple binuntils on the
   # PATH to both be usable.
@@ -34,7 +34,7 @@ let
   # HACK to ensure that we preserve source from bootstrap binutils to not rebuild LLVM
   normal-src = stdenv.__bootPackages.binutils-unwrapped.src or (fetchurl {
     url = "mirror://gnu/binutils/${basename}-${version}.tar.bz2";
-    sha256 = "1rin1f5c7wm4n3piky6xilcrpf2s0n3dd5vqq8irrxkcic3i1w49";
+    sha256 = "sha256-Mg56HQ9G/Nn0E/EEbiFsviO7K85t62xqYzBEJeSLGUI=";
   });
 in
 
@@ -48,12 +48,6 @@ stdenv.mkDerivation {
     # Make binutils output deterministic by default.
     ./deterministic.patch
 
-    # Bfd looks in BINDIR/../lib for some plugins that don't
-    # exist. This is pointless (since users can't install plugins
-    # there) and causes a cycle between the lib and bin outputs, so
-    # get rid of it.
-    ./no-plugins.patch
-
     # Help bfd choose between elf32-littlearm, elf32-littlearm-symbian, and
     # elf32-littlearm-vxworks in favor of the first.
     # https://github.com/NixOS/nixpkgs/pull/30484#issuecomment-345472766
diff --git a/pkgs/development/tools/misc/binutils/no-plugins.patch b/pkgs/development/tools/misc/binutils/no-plugins.patch
deleted file mode 100644
index 68cf51b7dd3c..000000000000
--- a/pkgs/development/tools/misc/binutils/no-plugins.patch
+++ /dev/null
@@ -1,21 +0,0 @@
-diff --git a/bfd/plugin.c b/bfd/plugin.c
-index 537ab60311..bfe7957f96 100644
---- a/bfd/plugin.c
-+++ b/bfd/plugin.c
-@@ -386,6 +386,7 @@ load_plugin (bfd *abfd)
-   if (plugin_program_name == NULL)
-     return found;
- 
-+#if 0
-   /* Try not to search the same dir twice, by looking at st_dev and
-      st_ino for the dir.  If we are on a file system that always sets
-      st_ino to zero or the actual st_ino is zero we might waste some
-@@ -437,7 +438,7 @@ load_plugin (bfd *abfd)
-       if (found)
- 	break;
-     }
--
-+#endif
-   return found;
- }
-