Here is an overview of the update, via Yacht Club Games:

About

This free downloadable content is packed with even more adventure, including a brand new challenging quest called “Knightmare Mode,” sweet mementos to unlock and show off in the HUB, and tons of quality of life improvements to make your journey even smoother. We can’t wait for you to dive back into Shovel Knight’s epic journey and experience this expansive and FREE addition to the game.

Note: The downloadable content/ /updates will launch on console at a later date, we’ll be sure to keep you in the loop once it’s on the way!

Key Features

• Knightmare Mode: What? Black Knight is in Shovel Knight Dig?!?! Something truly evil must be brewing down in the well! It’s up to Shovel Knight & Black Knight to uncover the true Knightmare and put a stop to it! Note: Knightmare Mode will become available to players after they complete the base game.
• Meet Your New Best Bud! Fetcher – Yip! Yip! Ya’ found a new character in the well! At the end of each stage, Fetcher will be waiting down in the well to do what he does best… fetch! For a measly 625 Bones (errrr, Gems).. .he’ll give players a chance to exit the well mid-run to save their gold and return to the HUB.
• It’s Time to Show Off
  • Mementos – Calling all trophy seekers! We made an update especially for you! The Mementos are keepsakes awarded to the player for their many accomplishments and will decorate the HUB. Screenshot it and show it off on Twitter! We will clap for you!
  • Compendium – The compendium keeps track of EVERYTHING you’ve collected and/or encountered in the well! Perfect for all you completionists!
• New Music Track – Music maestro, Jake Kaufman, whipped up another banger for Shovel Knight Dig‘s soundtrack! This track can be heard echoing in the Mushroom Mines, it’s called “Hexcadecimate”!
• Quality of Life Updates
  • Item improvements (based on player feedback).
  • Level design adjustments and additions.
  • Seeds are now available in the Menu allowing players to set specific Seed (Note: PC version only).
  • Camera “Look Up / Down” feature.
  • Food / enemies / signs have been to the compendium.
  • Key order adjustment.
  • Can turn off auto-downthrust (Shovel Drop) in menu.
  • Seen cut-scenes are now skippable.
  • Food and max HP balancing.

Watch a new set of trailers below.

Free Update “Fate and Fortune” Trailer

Music Sample: “Hexcadecimate”