diff --git a/operator/bundle/community-openshift/manifests/loki-operator.clusterserviceversion.yaml b/operator/bundle/community-openshift/manifests/loki-operator.clusterserviceversion.yaml
index e91e10a64442..8468d36696af 100644
--- a/operator/bundle/community-openshift/manifests/loki-operator.clusterserviceversion.yaml
+++ b/operator/bundle/community-openshift/manifests/loki-operator.clusterserviceversion.yaml
@@ -150,7 +150,7 @@ metadata:
     categories: OpenShift Optional, Logging & Tracing
     certified: "false"
     containerImage: docker.io/grafana/loki-operator:0.6.1
-    createdAt: "2024-07-02T16:13:52Z"
+    createdAt: "2024-07-05T08:22:21Z"
     description: The Community Loki Operator provides Kubernetes native deployment
       and management of Loki and related logging components.
     features.operators.openshift.io/disconnected: "true"
@@ -1732,7 +1732,7 @@ spec:
                 - /manager
                 env:
                 - name: RELATED_IMAGE_LOKI
-                  value: docker.io/grafana/loki:2.9.8
+                  value: docker.io/grafana/loki:3.1.0
                 - name: RELATED_IMAGE_GATEWAY
                   value: quay.io/observatorium/api:latest
                 - name: RELATED_IMAGE_OPA
@@ -1856,7 +1856,7 @@ spec:
   provider:
     name: Grafana Loki SIG Operator
   relatedImages:
-  - image: docker.io/grafana/loki:2.9.8
+  - image: docker.io/grafana/loki:3.1.0
     name: loki
   - image: quay.io/observatorium/api:latest
     name: gateway
diff --git a/operator/bundle/community/manifests/loki-operator.clusterserviceversion.yaml b/operator/bundle/community/manifests/loki-operator.clusterserviceversion.yaml
index 03195bfe7cce..d0cd0a035dee 100644
--- a/operator/bundle/community/manifests/loki-operator.clusterserviceversion.yaml
+++ b/operator/bundle/community/manifests/loki-operator.clusterserviceversion.yaml
@@ -150,7 +150,7 @@ metadata:
     categories: OpenShift Optional, Logging & Tracing
     certified: "false"
     containerImage: docker.io/grafana/loki-operator:0.6.1
-    createdAt: "2024-07-02T16:13:50Z"
+    createdAt: "2024-07-05T08:22:19Z"
     description: The Community Loki Operator provides Kubernetes native deployment
       and management of Loki and related logging components.
     operators.operatorframework.io/builder: operator-sdk-unknown
@@ -1712,7 +1712,7 @@ spec:
                 - /manager
                 env:
                 - name: RELATED_IMAGE_LOKI
-                  value: docker.io/grafana/loki:2.9.8
+                  value: docker.io/grafana/loki:3.1.0
                 - name: RELATED_IMAGE_GATEWAY
                   value: quay.io/observatorium/api:latest
                 - name: RELATED_IMAGE_OPA
@@ -1824,7 +1824,7 @@ spec:
   provider:
     name: Grafana Loki SIG Operator
   relatedImages:
-  - image: docker.io/grafana/loki:2.9.8
+  - image: docker.io/grafana/loki:3.1.0
     name: loki
   - image: quay.io/observatorium/api:latest
     name: gateway
diff --git a/operator/bundle/openshift/manifests/loki-operator.clusterserviceversion.yaml b/operator/bundle/openshift/manifests/loki-operator.clusterserviceversion.yaml
index d21f1adbb7c4..f1fc360f9d4e 100644
--- a/operator/bundle/openshift/manifests/loki-operator.clusterserviceversion.yaml
+++ b/operator/bundle/openshift/manifests/loki-operator.clusterserviceversion.yaml
@@ -150,7 +150,7 @@ metadata:
     categories: OpenShift Optional, Logging & Tracing
     certified: "false"
     containerImage: quay.io/openshift-logging/loki-operator:0.1.0
-    createdAt: "2024-07-02T16:13:54Z"
+    createdAt: "2024-07-05T08:22:23Z"
     description: |
       The Loki Operator for OCP provides a means for configuring and managing a Loki stack for cluster logging.
       ## Prerequisites and Requirements
@@ -1717,7 +1717,7 @@ spec:
                 - /manager
                 env:
                 - name: RELATED_IMAGE_LOKI
-                  value: quay.io/openshift-logging/loki:v2.9.8
+                  value: quay.io/openshift-logging/loki:v3.1.0
                 - name: RELATED_IMAGE_GATEWAY
                   value: quay.io/observatorium/api:latest
                 - name: RELATED_IMAGE_OPA
@@ -1841,7 +1841,7 @@ spec:
   provider:
     name: Red Hat
   relatedImages:
-  - image: quay.io/openshift-logging/loki:v2.9.8
+  - image: quay.io/openshift-logging/loki:v3.1.0
     name: loki
   - image: quay.io/observatorium/api:latest
     name: gateway
diff --git a/operator/config/overlays/community-openshift/manager_related_image_patch.yaml b/operator/config/overlays/community-openshift/manager_related_image_patch.yaml
index 27e9430a8875..5e454e400cc8 100644
--- a/operator/config/overlays/community-openshift/manager_related_image_patch.yaml
+++ b/operator/config/overlays/community-openshift/manager_related_image_patch.yaml
@@ -9,7 +9,7 @@ spec:
         - name: manager
           env:
           - name: RELATED_IMAGE_LOKI
-            value: docker.io/grafana/loki:2.9.8
+            value: docker.io/grafana/loki:3.1.0
           - name: RELATED_IMAGE_GATEWAY
             value: quay.io/observatorium/api:latest
           - name: RELATED_IMAGE_OPA
diff --git a/operator/config/overlays/community/manager_related_image_patch.yaml b/operator/config/overlays/community/manager_related_image_patch.yaml
index 27e9430a8875..5e454e400cc8 100644
--- a/operator/config/overlays/community/manager_related_image_patch.yaml
+++ b/operator/config/overlays/community/manager_related_image_patch.yaml
@@ -9,7 +9,7 @@ spec:
         - name: manager
           env:
           - name: RELATED_IMAGE_LOKI
-            value: docker.io/grafana/loki:2.9.8
+            value: docker.io/grafana/loki:3.1.0
           - name: RELATED_IMAGE_GATEWAY
             value: quay.io/observatorium/api:latest
           - name: RELATED_IMAGE_OPA
diff --git a/operator/config/overlays/development/manager_related_image_patch.yaml b/operator/config/overlays/development/manager_related_image_patch.yaml
index a2f8845c869d..3ae62832b150 100644
--- a/operator/config/overlays/development/manager_related_image_patch.yaml
+++ b/operator/config/overlays/development/manager_related_image_patch.yaml
@@ -9,6 +9,6 @@ spec:
         - name: manager
           env:
           - name: RELATED_IMAGE_LOKI
-            value: docker.io/grafana/loki:2.9.8
+            value: docker.io/grafana/loki:3.1.0
           - name: RELATED_IMAGE_GATEWAY
             value: quay.io/observatorium/api:latest
diff --git a/operator/config/overlays/openshift/manager_related_image_patch.yaml b/operator/config/overlays/openshift/manager_related_image_patch.yaml
index ec8a18f1a9d6..675a31564035 100644
--- a/operator/config/overlays/openshift/manager_related_image_patch.yaml
+++ b/operator/config/overlays/openshift/manager_related_image_patch.yaml
@@ -9,7 +9,7 @@ spec:
         - name: manager
           env:
           - name: RELATED_IMAGE_LOKI
-            value: quay.io/openshift-logging/loki:v2.9.8
+            value: quay.io/openshift-logging/loki:v3.1.0
           - name: RELATED_IMAGE_GATEWAY
             value: quay.io/observatorium/api:latest
           - name: RELATED_IMAGE_OPA
diff --git a/operator/docs/operator/compatibility.md b/operator/docs/operator/compatibility.md
index 7efe690680b3..5887c7a68cfa 100644
--- a/operator/docs/operator/compatibility.md
+++ b/operator/docs/operator/compatibility.md
@@ -40,3 +40,4 @@ The versions of Loki compatible to be run with the Loki Operator are:
 * v2.9.4
 * v2.9.6
 * v2.9.8
+* v3.1.0
diff --git a/operator/hack/addons_dev.yaml b/operator/hack/addons_dev.yaml
index 9cfc99a8dee3..feb9781d269d 100644
--- a/operator/hack/addons_dev.yaml
+++ b/operator/hack/addons_dev.yaml
@@ -29,7 +29,7 @@ spec:
     spec:
       containers:
         - name: logcli
-          image: docker.io/grafana/logcli:2.9.8-amd64
+          image: docker.io/grafana/logcli:3.1.0-amd64
           imagePullPolicy: IfNotPresent
           command:
             - /bin/sh
@@ -73,7 +73,7 @@ spec:
     spec:
       containers:
         - name: promtail
-          image: docker.io/grafana/promtail:2.9.8
+          image: docker.io/grafana/promtail:3.1.0
           args:
             - -config.file=/etc/promtail/promtail.yaml
             - -log.level=info
diff --git a/operator/hack/addons_ocp.yaml b/operator/hack/addons_ocp.yaml
index e62c3baa8d41..59b942c9a405 100644
--- a/operator/hack/addons_ocp.yaml
+++ b/operator/hack/addons_ocp.yaml
@@ -29,7 +29,7 @@ spec:
     spec:
       containers:
         - name: logcli
-          image: docker.io/grafana/logcli:2.9.8-amd64
+          image: docker.io/grafana/logcli:3.1.0-amd64
           imagePullPolicy: IfNotPresent
           command:
             - /bin/sh
@@ -70,7 +70,7 @@ spec:
     spec:
       containers:
         - name: promtail
-          image: docker.io/grafana/promtail:2.9.8
+          image: docker.io/grafana/promtail:3.1.0
           args:
             - -config.file=/etc/promtail/promtail.yaml
             - -log.level=info
diff --git a/operator/internal/manifests/internal/config/build_test.go b/operator/internal/manifests/internal/config/build_test.go
index 7a9479c34dd4..f7131d217b89 100644
--- a/operator/internal/manifests/internal/config/build_test.go
+++ b/operator/internal/manifests/internal/config/build_test.go
@@ -50,7 +50,6 @@ frontend_worker:
   frontend_address: loki-query-frontend-grpc-lokistack-dev.default.svc.cluster.local:9095
   grpc_client_config:
     max_send_msg_size: 104857600
-  match_max_concurrent: true
 ingester:
   chunk_block_size: 262144
   chunk_encoding: snappy
@@ -65,7 +64,6 @@ ingester:
     ring:
       replication_factor: 1
   max_chunk_age: 2h
-  max_transfer_retries: 0
   wal:
     enabled: true
     dir: /tmp/wal
@@ -92,7 +90,6 @@ limits_config:
   reject_old_samples: true
   reject_old_samples_max_age: 168h
   creation_grace_period: 10m
-  enforce_metric_name: false
   # Keep max_streams_per_user always to 0 to default
   # using max_global_streams_per_user always.
   # (See https://github.com/grafana/loki/blob/main/pkg/ingester/limiter.go#L73)
@@ -171,7 +168,6 @@ storage_config:
     cache_location: /tmp/loki/index_cache
     cache_ttl: 24h
     resync_interval: 5m
-    shared_store: s3
     index_gateway_client:
       server_address: dns:///loki-index-gateway-grpc-lokistack-dev.default.svc.cluster.local:9095
 tracing:
@@ -311,7 +307,6 @@ frontend_worker:
   frontend_address: loki-query-frontend-grpc-lokistack-dev.default.svc.cluster.local:9095
   grpc_client_config:
     max_send_msg_size: 104857600
-  match_max_concurrent: true
 ingester:
   chunk_block_size: 262144
   chunk_encoding: snappy
@@ -326,7 +321,6 @@ ingester:
     ring:
       replication_factor: 1
   max_chunk_age: 2h
-  max_transfer_retries: 0
   wal:
     enabled: true
     dir: /tmp/wal
@@ -353,7 +347,6 @@ limits_config:
   reject_old_samples: true
   reject_old_samples_max_age: 168h
   creation_grace_period: 10m
-  enforce_metric_name: false
   # Keep max_streams_per_user always to 0 to default
   # using max_global_streams_per_user always.
   # (See https://github.com/grafana/loki/blob/main/pkg/ingester/limiter.go#L73)
@@ -432,7 +425,6 @@ storage_config:
     cache_location: /tmp/loki/index_cache
     cache_ttl: 24h
     resync_interval: 5m
-    shared_store: s3
     index_gateway_client:
       server_address: dns:///loki-index-gateway-grpc-lokistack-dev.default.svc.cluster.local:9095
 tracing:
@@ -741,7 +733,6 @@ frontend_worker:
   frontend_address: loki-query-frontend-grpc-lokistack-dev.default.svc.cluster.local:9095
   grpc_client_config:
     max_send_msg_size: 104857600
-  match_max_concurrent: true
 ingester:
   chunk_block_size: 262144
   chunk_encoding: snappy
@@ -756,7 +747,6 @@ ingester:
     ring:
       replication_factor: 1
   max_chunk_age: 2h
-  max_transfer_retries: 0
   wal:
     enabled: true
     dir: /tmp/wal
@@ -783,7 +773,6 @@ limits_config:
   reject_old_samples: true
   reject_old_samples_max_age: 168h
   creation_grace_period: 10m
-  enforce_metric_name: false
   # Keep max_streams_per_user always to 0 to default
   # using max_global_streams_per_user always.
   # (See https://github.com/grafana/loki/blob/main/pkg/ingester/limiter.go#L73)
@@ -916,7 +905,6 @@ storage_config:
     cache_location: /tmp/loki/index_cache
     cache_ttl: 24h
     resync_interval: 5m
-    shared_store: s3
     index_gateway_client:
       server_address: dns:///loki-index-gateway-grpc-lokistack-dev.default.svc.cluster.local:9095
 tracing:
@@ -1103,7 +1091,6 @@ frontend_worker:
   frontend_address: loki-query-frontend-grpc-lokistack-dev.default.svc.cluster.local:9095
   grpc_client_config:
     max_send_msg_size: 104857600
-  match_max_concurrent: true
 ingester:
   chunk_block_size: 262144
   chunk_encoding: snappy
@@ -1118,7 +1105,6 @@ ingester:
     ring:
       replication_factor: 1
   max_chunk_age: 2h
-  max_transfer_retries: 0
   wal:
     enabled: true
     dir: /tmp/wal
@@ -1145,7 +1131,6 @@ limits_config:
   reject_old_samples: true
   reject_old_samples_max_age: 168h
   creation_grace_period: 10m
-  enforce_metric_name: false
   # Keep max_streams_per_user always to 0 to default
   # using max_global_streams_per_user always.
   # (See https://github.com/grafana/loki/blob/main/pkg/ingester/limiter.go#L73)
@@ -1278,7 +1263,6 @@ storage_config:
     cache_location: /tmp/loki/index_cache
     cache_ttl: 24h
     resync_interval: 5m
-    shared_store: s3
     index_gateway_client:
       server_address: dns:///loki-index-gateway-grpc-lokistack-dev.default.svc.cluster.local:9095
 tracing:
@@ -1466,7 +1450,6 @@ frontend_worker:
   frontend_address: loki-query-frontend-grpc-lokistack-dev.default.svc.cluster.local:9095
   grpc_client_config:
     max_send_msg_size: 104857600
-  match_max_concurrent: true
 ingester:
   chunk_block_size: 262144
   chunk_encoding: snappy
@@ -1481,7 +1464,6 @@ ingester:
     ring:
       replication_factor: 1
   max_chunk_age: 2h
-  max_transfer_retries: 0
   wal:
     enabled: true
     dir: /tmp/wal
@@ -1508,7 +1490,6 @@ limits_config:
   reject_old_samples: true
   reject_old_samples_max_age: 168h
   creation_grace_period: 10m
-  enforce_metric_name: false
   # Keep max_streams_per_user always to 0 to default
   # using max_global_streams_per_user always.
   # (See https://github.com/grafana/loki/blob/main/pkg/ingester/limiter.go#L73)
@@ -1654,7 +1635,6 @@ storage_config:
     cache_location: /tmp/loki/index_cache
     cache_ttl: 24h
     resync_interval: 5m
-    shared_store: s3
     index_gateway_client:
       server_address: dns:///loki-index-gateway-grpc-lokistack-dev.default.svc.cluster.local:9095
 tracing:
@@ -1862,7 +1842,6 @@ frontend_worker:
   frontend_address: loki-query-frontend-grpc-lokistack-dev.default.svc.cluster.local:9095
   grpc_client_config:
     max_send_msg_size: 104857600
-  match_max_concurrent: true
 ingester:
   chunk_block_size: 262144
   chunk_encoding: snappy
@@ -1877,7 +1856,6 @@ ingester:
     ring:
       replication_factor: 1
   max_chunk_age: 2h
-  max_transfer_retries: 0
   wal:
     enabled: true
     dir: /tmp/wal
@@ -1904,7 +1882,6 @@ limits_config:
   reject_old_samples: true
   reject_old_samples_max_age: 168h
   creation_grace_period: 10m
-  enforce_metric_name: false
   # Keep max_streams_per_user always to 0 to default
   # using max_global_streams_per_user always.
   # (See https://github.com/grafana/loki/blob/main/pkg/ingester/limiter.go#L73)
@@ -1988,7 +1965,6 @@ storage_config:
     cache_location: /tmp/loki/index_cache
     cache_ttl: 24h
     resync_interval: 5m
-    shared_store: s3
     index_gateway_client:
       server_address: dns:///loki-index-gateway-grpc-lokistack-dev.default.svc.cluster.local:9095
 tracing:
@@ -2201,7 +2177,6 @@ frontend_worker:
   frontend_address: loki-query-frontend-grpc-lokistack-dev.default.svc.cluster.local:9095
   grpc_client_config:
     max_send_msg_size: 104857600
-  match_max_concurrent: true
 ingester:
   chunk_block_size: 262144
   chunk_encoding: snappy
@@ -2216,7 +2191,6 @@ ingester:
     ring:
       replication_factor: 1
   max_chunk_age: 2h
-  max_transfer_retries: 0
   wal:
     enabled: true
     dir: /tmp/wal
@@ -2243,7 +2217,6 @@ limits_config:
   reject_old_samples: true
   reject_old_samples_max_age: 168h
   creation_grace_period: 10m
-  enforce_metric_name: false
   # Keep max_streams_per_user always to 0 to default
   # using max_global_streams_per_user always.
   # (See https://github.com/grafana/loki/blob/main/pkg/ingester/limiter.go#L73)
@@ -2402,7 +2375,6 @@ storage_config:
     cache_location: /tmp/loki/index_cache
     cache_ttl: 24h
     resync_interval: 5m
-    shared_store: s3
     index_gateway_client:
       server_address: dns:///loki-index-gateway-grpc-lokistack-dev.default.svc.cluster.local:9095
 tracing:
@@ -2637,7 +2609,6 @@ frontend_worker:
     tls_server_name: query-frontend-grpc.svc
     tls_cipher_suites: cipher1,cipher2
     tls_min_version: VersionTLS12
-  match_max_concurrent: true
 ingester:
   chunk_block_size: 262144
   chunk_encoding: snappy
@@ -2652,7 +2623,6 @@ ingester:
     ring:
       replication_factor: 1
   max_chunk_age: 2h
-  max_transfer_retries: 0
   wal:
     enabled: true
     dir: /tmp/wal
@@ -2686,7 +2656,6 @@ limits_config:
   reject_old_samples: true
   reject_old_samples_max_age: 168h
   creation_grace_period: 10m
-  enforce_metric_name: false
   # Keep max_streams_per_user always to 0 to default
   # using max_global_streams_per_user always.
   # (See https://github.com/grafana/loki/blob/main/pkg/ingester/limiter.go#L73)
@@ -2794,7 +2763,6 @@ storage_config:
     cache_location: /tmp/loki/index_cache
     cache_ttl: 24h
     resync_interval: 5m
-    shared_store: s3
     index_gateway_client:
       server_address: dns:///loki-index-gateway-grpc-lokistack-dev.default.svc.cluster.local:9095
       grpc_client_config:
@@ -2972,7 +2940,6 @@ frontend_worker:
   frontend_address: loki-query-frontend-grpc-lokistack-dev.default.svc.cluster.local:9095
   grpc_client_config:
     max_send_msg_size: 104857600
-  match_max_concurrent: true
 ingester:
   chunk_block_size: 262144
   chunk_encoding: snappy
@@ -2987,7 +2954,6 @@ ingester:
     ring:
       replication_factor: 1
   max_chunk_age: 2h
-  max_transfer_retries: 0
   wal:
     enabled: true
     dir: /tmp/wal
@@ -3014,7 +2980,6 @@ limits_config:
   reject_old_samples: true
   reject_old_samples_max_age: 168h
   creation_grace_period: 10m
-  enforce_metric_name: false
   # Keep max_streams_per_user always to 0 to default
   # using max_global_streams_per_user always.
   # (See https://github.com/grafana/loki/blob/main/pkg/ingester/limiter.go#L73)
@@ -3173,7 +3138,6 @@ storage_config:
     cache_location: /tmp/loki/index_cache
     cache_ttl: 24h
     resync_interval: 5m
-    shared_store: s3
     index_gateway_client:
       server_address: dns:///loki-index-gateway-grpc-lokistack-dev.default.svc.cluster.local:9095
 tracing:
@@ -3473,7 +3437,6 @@ frontend_worker:
   frontend_address: loki-query-frontend-grpc-lokistack-dev.default.svc.cluster.local:9095
   grpc_client_config:
     max_send_msg_size: 104857600
-  match_max_concurrent: true
 ingester:
   chunk_block_size: 262144
   chunk_encoding: snappy
@@ -3488,7 +3451,6 @@ ingester:
     ring:
       replication_factor: 1
   max_chunk_age: 2h
-  max_transfer_retries: 0
   wal:
     enabled: true
     dir: /tmp/wal
@@ -3515,7 +3477,6 @@ limits_config:
   reject_old_samples: true
   reject_old_samples_max_age: 168h
   creation_grace_period: 10m
-  enforce_metric_name: false
   # Keep max_streams_per_user always to 0 to default
   # using max_global_streams_per_user always.
   # (See https://github.com/grafana/loki/blob/main/pkg/ingester/limiter.go#L73)
@@ -3595,7 +3556,6 @@ storage_config:
     cache_location: /tmp/loki/index_cache
     cache_ttl: 24h
     resync_interval: 5m
-    shared_store: s3
     index_gateway_client:
       server_address: dns:///loki-index-gateway-grpc-lokistack-dev.default.svc.cluster.local:9095
 tracing:
@@ -3737,7 +3697,6 @@ frontend_worker:
   frontend_address: loki-query-frontend-grpc-lokistack-dev.default.svc.cluster.local:9095
   grpc_client_config:
     max_send_msg_size: 104857600
-  match_max_concurrent: true
 ingester:
   chunk_block_size: 262144
   chunk_encoding: snappy
@@ -3753,7 +3712,6 @@ ingester:
     ring:
       replication_factor: 1
   max_chunk_age: 2h
-  max_transfer_retries: 0
   wal:
     enabled: true
     dir: /tmp/wal
@@ -3780,7 +3738,6 @@ limits_config:
   reject_old_samples: true
   reject_old_samples_max_age: 168h
   creation_grace_period: 10m
-  enforce_metric_name: false
   # Keep max_streams_per_user always to 0 to default
   # using max_global_streams_per_user always.
   # (See https://github.com/grafana/loki/blob/main/pkg/ingester/limiter.go#L73)
@@ -3860,7 +3817,6 @@ storage_config:
     cache_location: /tmp/loki/index_cache
     cache_ttl: 24h
     resync_interval: 5m
-    shared_store: s3
     index_gateway_client:
       server_address: dns:///loki-index-gateway-grpc-lokistack-dev.default.svc.cluster.local:9095
 tracing:
@@ -4004,7 +3960,6 @@ frontend_worker:
   frontend_address: loki-query-frontend-grpc-lokistack-dev.default.svc.cluster.local:9095
   grpc_client_config:
     max_send_msg_size: 104857600
-  match_max_concurrent: true
 ingester:
   chunk_block_size: 262144
   chunk_encoding: snappy
@@ -4019,7 +3974,6 @@ ingester:
     ring:
       replication_factor: 1
   max_chunk_age: 2h
-  max_transfer_retries: 0
   wal:
     enabled: true
     dir: /tmp/wal
@@ -4046,7 +4000,6 @@ limits_config:
   reject_old_samples: true
   reject_old_samples_max_age: 168h
   creation_grace_period: 10m
-  enforce_metric_name: false
   # Keep max_streams_per_user always to 0 to default
   # using max_global_streams_per_user always.
   # (See https://github.com/grafana/loki/blob/main/pkg/ingester/limiter.go#L73)
@@ -4125,7 +4078,6 @@ storage_config:
     cache_location: /tmp/loki/index_cache
     cache_ttl: 24h
     resync_interval: 5m
-    shared_store: s3
     index_gateway_client:
       server_address: dns:///loki-index-gateway-grpc-lokistack-dev.default.svc.cluster.local:9095
 tracing:
@@ -4271,7 +4223,6 @@ frontend_worker:
   frontend_address: loki-query-frontend-grpc-lokistack-dev.default.svc.cluster.local:9095
   grpc_client_config:
     max_send_msg_size: 104857600
-  match_max_concurrent: true
 ingester:
   chunk_block_size: 262144
   chunk_encoding: snappy
@@ -4286,7 +4237,6 @@ ingester:
     ring:
       replication_factor: 1
   max_chunk_age: 2h
-  max_transfer_retries: 0
   wal:
     enabled: true
     dir: /tmp/wal
@@ -4313,7 +4263,6 @@ limits_config:
   reject_old_samples: true
   reject_old_samples_max_age: 168h
   creation_grace_period: 10m
-  enforce_metric_name: false
   # Keep max_streams_per_user always to 0 to default
   # using max_global_streams_per_user always.
   # (See https://github.com/grafana/loki/blob/main/pkg/ingester/limiter.go#L73)
@@ -4392,7 +4341,6 @@ storage_config:
     cache_location: /tmp/loki/index_cache
     cache_ttl: 24h
     resync_interval: 5m
-    shared_store: s3
     index_gateway_client:
       server_address: dns:///loki-index-gateway-grpc-lokistack-dev.default.svc.cluster.local:9095
 tracing:
@@ -4574,7 +4522,6 @@ frontend_worker:
   frontend_address: loki-query-frontend-grpc-lokistack-dev.default.svc.cluster.local:9095
   grpc_client_config:
     max_send_msg_size: 104857600
-  match_max_concurrent: true
 ingester:
   chunk_block_size: 262144
   chunk_encoding: snappy
@@ -4589,7 +4536,6 @@ ingester:
     ring:
       replication_factor: 1
   max_chunk_age: 2h
-  max_transfer_retries: 0
   wal:
     enabled: true
     dir: /tmp/wal
@@ -4616,7 +4562,6 @@ limits_config:
   reject_old_samples: true
   reject_old_samples_max_age: 168h
   creation_grace_period: 10m
-  enforce_metric_name: false
   # Keep max_streams_per_user always to 0 to default
   # using max_global_streams_per_user always.
   # (See https://github.com/grafana/loki/blob/main/pkg/ingester/limiter.go#L73)
@@ -4695,7 +4640,6 @@ storage_config:
     cache_location: /tmp/loki/index_cache
     cache_ttl: 24h
     resync_interval: 5m
-    shared_store: s3
     index_gateway_client:
       server_address: dns:///loki-index-gateway-grpc-lokistack-dev.default.svc.cluster.local:9095
 tracing:
@@ -4875,7 +4819,6 @@ frontend_worker:
   frontend_address: loki-query-frontend-grpc-lokistack-dev.default.svc.cluster.local:9095
   grpc_client_config:
     max_send_msg_size: 104857600
-  match_max_concurrent: true
 ingester:
   chunk_block_size: 262144
   chunk_encoding: snappy
@@ -4890,7 +4833,6 @@ ingester:
     ring:
       replication_factor: 1
   max_chunk_age: 2h
-  max_transfer_retries: 0
   wal:
     enabled: true
     dir: /tmp/wal
@@ -4917,7 +4859,6 @@ limits_config:
   reject_old_samples: true
   reject_old_samples_max_age: 168h
   creation_grace_period: 10m
-  enforce_metric_name: false
   # Keep max_streams_per_user always to 0 to default
   # using max_global_streams_per_user always.
   # (See https://github.com/grafana/loki/blob/main/pkg/ingester/limiter.go#L73)
@@ -4993,7 +4934,6 @@ storage_config:
     cache_location: /tmp/loki/index_cache
     cache_ttl: 24h
     resync_interval: 5m
-    shared_store: s3
     index_gateway_client:
       server_address: dns:///loki-index-gateway-grpc-lokistack-dev.default.svc.cluster.local:9095
 tracing:
@@ -5214,7 +5154,6 @@ func TestBuild_ConfigAndRuntimeConfig_Schemas(t *testing.T) {
     cache_location: /tmp/loki/index_cache
     cache_ttl: 24h
     resync_interval: 5m
-    shared_store: s3
     index_gateway_client:
       server_address: dns:///loki-index-gateway-grpc-lokistack-dev.default.svc.cluster.local:9095`,
 		},
@@ -5242,7 +5181,6 @@ func TestBuild_ConfigAndRuntimeConfig_Schemas(t *testing.T) {
     cache_location: /tmp/loki/index_cache
     cache_ttl: 24h
     resync_interval: 5m
-    shared_store: s3
     index_gateway_client:
       server_address: dns:///loki-index-gateway-grpc-lokistack-dev.default.svc.cluster.local:9095`,
 		},
@@ -5270,7 +5208,6 @@ func TestBuild_ConfigAndRuntimeConfig_Schemas(t *testing.T) {
     cache_location: /tmp/loki/tsdb-cache
     cache_ttl: 24h
     resync_interval: 5m
-    shared_store: s3
     index_gateway_client:
       server_address: dns:///loki-index-gateway-grpc-lokistack-dev.default.svc.cluster.local:9095`,
 		},
@@ -5320,7 +5257,6 @@ func TestBuild_ConfigAndRuntimeConfig_Schemas(t *testing.T) {
     cache_location: /tmp/loki/index_cache
     cache_ttl: 24h
     resync_interval: 5m
-    shared_store: s3
     index_gateway_client:
       server_address: dns:///loki-index-gateway-grpc-lokistack-dev.default.svc.cluster.local:9095
   tsdb_shipper:
@@ -5328,7 +5264,6 @@ func TestBuild_ConfigAndRuntimeConfig_Schemas(t *testing.T) {
     cache_location: /tmp/loki/tsdb-cache
     cache_ttl: 24h
     resync_interval: 5m
-    shared_store: s3
     index_gateway_client:
       server_address: dns:///loki-index-gateway-grpc-lokistack-dev.default.svc.cluster.local:9095`,
 		},
@@ -5370,7 +5305,6 @@ frontend_worker:
   frontend_address: loki-query-frontend-grpc-lokistack-dev.default.svc.cluster.local:9095
   grpc_client_config:
     max_send_msg_size: 104857600
-  match_max_concurrent: true
 ingester:
   chunk_block_size: 262144
   chunk_encoding: snappy
@@ -5385,7 +5319,6 @@ ingester:
     ring:
       replication_factor: 1
   max_chunk_age: 2h
-  max_transfer_retries: 0
   wal:
     enabled: true
     dir: /tmp/wal
@@ -5412,7 +5345,6 @@ limits_config:
   reject_old_samples: true
   reject_old_samples_max_age: 168h
   creation_grace_period: 10m
-  enforce_metric_name: false
   # Keep max_streams_per_user always to 0 to default
   # using max_global_streams_per_user always.
   # (See https://github.com/grafana/loki/blob/main/pkg/ingester/limiter.go#L73)
@@ -5547,7 +5479,6 @@ frontend_worker:
   frontend_address: loki-query-frontend-grpc-lokistack-dev.default.svc.cluster.local:9095
   grpc_client_config:
     max_send_msg_size: 104857600
-  match_max_concurrent: true
 ingester:
   chunk_block_size: 262144
   chunk_encoding: snappy
@@ -5562,7 +5493,6 @@ ingester:
     ring:
       replication_factor: 1
   max_chunk_age: 2h
-  max_transfer_retries: 0
   wal:
     enabled: true
     dir: /tmp/wal
@@ -5589,7 +5519,6 @@ limits_config:
   reject_old_samples: true
   reject_old_samples_max_age: 168h
   creation_grace_period: 10m
-  enforce_metric_name: false
   # Keep max_streams_per_user always to 0 to default
   # using max_global_streams_per_user always.
   # (See https://github.com/grafana/loki/blob/main/pkg/ingester/limiter.go#L73)
@@ -5665,7 +5594,6 @@ storage_config:
     cache_location: /tmp/loki/index_cache
     cache_ttl: 24h
     resync_interval: 5m
-    shared_store: s3
     index_gateway_client:
       server_address: dns:///loki-index-gateway-grpc-lokistack-dev.default.svc.cluster.local:9095
 tracing:
@@ -5720,7 +5648,6 @@ frontend_worker:
   frontend_address: loki-query-frontend-grpc-lokistack-dev.default.svc.cluster.local:9095
   grpc_client_config:
     max_send_msg_size: 104857600
-  match_max_concurrent: true
 ingester:
   chunk_block_size: 262144
   chunk_encoding: snappy
@@ -5735,7 +5662,6 @@ ingester:
     ring:
       replication_factor: 1
   max_chunk_age: 2h
-  max_transfer_retries: 0
   wal:
     enabled: true
     dir: /tmp/wal
@@ -5762,7 +5688,6 @@ limits_config:
   reject_old_samples: true
   reject_old_samples_max_age: 168h
   creation_grace_period: 10m
-  enforce_metric_name: false
   # Keep max_streams_per_user always to 0 to default
   # using max_global_streams_per_user always.
   # (See https://github.com/grafana/loki/blob/main/pkg/ingester/limiter.go#L73)
@@ -5906,7 +5831,6 @@ storage_config:
     cache_location: /tmp/loki/index_cache
     cache_ttl: 24h
     resync_interval: 5m
-    shared_store: s3
     index_gateway_client:
       server_address: dns:///loki-index-gateway-grpc-lokistack-dev.default.svc.cluster.local:9095
 tracing:
diff --git a/operator/internal/manifests/internal/config/loki-config.yaml b/operator/internal/manifests/internal/config/loki-config.yaml
index 7db4597f1c62..a68ad96cd4c2 100644
--- a/operator/internal/manifests/internal/config/loki-config.yaml
+++ b/operator/internal/manifests/internal/config/loki-config.yaml
@@ -131,7 +131,6 @@ frontend_worker:
     tls_cipher_suites: {{ .TLS.CipherSuitesString }}
     tls_min_version: {{ .TLS.MinTLSVersion }}
 {{- end }}
-  match_max_concurrent: true
 ingester:
   chunk_block_size: 262144
   chunk_encoding: snappy
@@ -149,7 +148,6 @@ ingester:
     {{- end}}
     ring:
       replication_factor: {{ .Stack.Replication.Factor }}
-  max_transfer_retries: 0
   wal:
     enabled: true
     dir: {{ .WriteAheadLog.Directory }}
@@ -185,7 +183,6 @@ limits_config:
   reject_old_samples: true
   reject_old_samples_max_age: 168h
   creation_grace_period: 10m
-  enforce_metric_name: false
   # Keep max_streams_per_user always to 0 to default
   # using max_global_streams_per_user always.
   # (See https://github.com/grafana/loki/blob/main/pkg/ingester/limiter.go#L73)
@@ -547,7 +544,6 @@ storage_config:
 {{- end }}
     cache_ttl: 24h
     resync_interval: 5m
-    shared_store: {{ $.ObjectStorage.SharedStore }}
     index_gateway_client:
       server_address: dns:///{{ $.IndexGateway.FQDN }}:{{ $.IndexGateway.Port }}
 {{- if $.Gates.GRPCEncryption }}
diff --git a/operator/internal/manifests/var.go b/operator/internal/manifests/var.go
index 8951ae26c5c3..b250734dd45f 100644
--- a/operator/internal/manifests/var.go
+++ b/operator/internal/manifests/var.go
@@ -59,7 +59,7 @@ const (
 	EnvRelatedImageGateway = "RELATED_IMAGE_GATEWAY"
 
 	// DefaultContainerImage declares the default fallback for loki image.
-	DefaultContainerImage = "docker.io/grafana/loki:2.9.8"
+	DefaultContainerImage = "docker.io/grafana/loki:3.1.0"
 
 	// DefaultLokiStackGatewayImage declares the default image for lokiStack-gateway.
 	DefaultLokiStackGatewayImage = "quay.io/observatorium/api:latest"