diff --git a/components/esptool_py/Makefile.projbuild b/components/esptool_py/Makefile.projbuild
index 25f2487ab4..092ac0e021 100644
--- a/components/esptool_py/Makefile.projbuild
+++ b/components/esptool_py/Makefile.projbuild
@@ -39,7 +39,9 @@ endif
 endif
 endif
 
+ifndef IS_BOOTLOADER_BUILD
 ESPTOOL_ELF2IMAGE_OPTIONS += --elf-sha256-offset 0xb0
+endif
 
 ESPTOOLPY_WRITE_FLASH=$(ESPTOOLPY_SERIAL) write_flash $(if $(CONFIG_ESPTOOLPY_COMPRESSED),-z,-u) $(ESPTOOL_WRITE_FLASH_OPTIONS)
 
diff --git a/components/esptool_py/esptool b/components/esptool_py/esptool
index 9ad444a6e0..40258ed6de 160000
--- a/components/esptool_py/esptool
+++ b/components/esptool_py/esptool
@@ -1 +1 @@
-Subproject commit 9ad444a6e06e58833d5e6044c1d5f3eb3dd56023
+Subproject commit 40258ed6de78672ef20862fea24fbdf4a9b38413
diff --git a/components/esptool_py/project_include.cmake b/components/esptool_py/project_include.cmake
index 2d05f11a73..d03552723d 100644
--- a/components/esptool_py/project_include.cmake
+++ b/components/esptool_py/project_include.cmake
@@ -52,7 +52,9 @@ if(CONFIG_SECURE_BOOT_ENABLED AND
         ${ESPTOOLPY_ELF2IMAGE_FLASH_OPTIONS} --secure-pad)
 endif()
 
-set(ESPTOOLPY_ELF2IMAGE_OPTIONS --elf-sha256-offset 0xb0)
+if(NOT BOOTLOADER_BUILD)
+    set(ESPTOOLPY_ELF2IMAGE_OPTIONS --elf-sha256-offset 0xb0)
+endif()
 
 if(CONFIG_ESPTOOLPY_FLASHSIZE_DETECT)
     # Set ESPFLASHSIZE to 'detect' *after* elf2image options are generated,