diff --git a/Cargo.lock b/Cargo.lock
index dc81a43fc5..d933389054 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -50,6 +50,12 @@ version = "0.5.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "23b62fc65de8e4e7f52534fb52b0f3ed04746ae267519eef2a83941e8085068b"
 
+[[package]]
+name = "arrayvec"
+version = "0.7.6"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "7c02d123df017efcdfbd739ef81735b36c5ba83ec3c59c80a9d7ecc718f92e50"
+
 [[package]]
 name = "ascii-canvas"
 version = "3.0.0"
@@ -558,6 +564,12 @@ version = "1.0.7"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "3f9eec918d3f24069decb9af1554cad7c880e2da24a9afd88aca000531ab82c1"
 
+[[package]]
+name = "foldhash"
+version = "0.1.4"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "a0d2fde1f7b3d48b8395d5f2de76c18a528bd6a9cdde438df747bfcba3e05d6f"
+
 [[package]]
 name = "form_urlencoded"
 version = "1.2.1"
@@ -720,6 +732,15 @@ version = "0.14.5"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "e5274423e17b7c9fc20b6e7e208532f9b19825d82dfd615708b70edd83df41f1"
 
+[[package]]
+name = "hashbrown"
+version = "0.15.2"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "bf151400ff0baff5465007dd2f3e717f3fe502074ca563069ce3a6629d07b289"
+dependencies = [
+ "foldhash",
+]
+
 [[package]]
 name = "hermit-abi"
 version = "0.3.9"
@@ -886,15 +907,9 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "68b900aa2f7301e21c36462b170ee99994de34dff39a4a6a528e80e7376d07e5"
 dependencies = [
  "equivalent",
- "hashbrown",
+ "hashbrown 0.14.5",
 ]
 
-[[package]]
-name = "indexmap-nostd"
-version = "0.4.0"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "8e04e2fd2b8188ea827b32ef11de88377086d690286ab35747ef7f9bf3ccb590"
-
 [[package]]
 name = "is-terminal"
 version = "0.4.13"
@@ -1090,6 +1105,12 @@ dependencies = [
  "windows-sys 0.48.0",
 ]
 
+[[package]]
+name = "multi-stash"
+version = "0.2.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "685a9ac4b61f4e728e1d2c6a7844609c16527aeb5e6c865915c08e619c16410f"
+
 [[package]]
 name = "new_debug_unreachable"
 version = "1.0.6"
@@ -1268,7 +1289,7 @@ version = "0.12.3"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "b55c4d17d994b637e2f4daf6e5dc5d660d209d5642377d675d7a1c3ab69fa579"
 dependencies = [
- "arrayvec",
+ "arrayvec 0.5.2",
  "typed-arena",
  "unicode-width",
 ]
@@ -1774,6 +1795,16 @@ dependencies = [
  "windows-sys 0.59.0",
 ]
 
+[[package]]
+name = "string-interner"
+version = "0.18.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "1a3275464d7a9f2d4cac57c89c2ef96a8524dba2864c8d6f82e3980baf136f9b"
+dependencies = [
+ "hashbrown 0.15.2",
+ "serde",
+]
+
 [[package]]
 name = "string_cache"
 version = "0.8.7"
@@ -2094,42 +2125,56 @@ dependencies = [
 
 [[package]]
 name = "wasmi"
-version = "0.31.2"
+version = "0.40.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "77a8281d1d660cdf54c76a3efa9ddd0c270cada1383a995db3ccb43d166456c7"
+checksum = "a19af97fcb96045dd1d6b4d23e2b4abdbbe81723dbc5c9f016eb52145b320063"
 dependencies = [
+ "arrayvec 0.7.6",
+ "multi-stash",
  "smallvec",
  "spin",
- "wasmi_arena",
+ "wasmi_collections",
  "wasmi_core",
- "wasmparser-nostd",
+ "wasmi_ir",
+ "wasmparser",
 ]
 
 [[package]]
-name = "wasmi_arena"
-version = "0.4.1"
+name = "wasmi_collections"
+version = "0.40.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "104a7f73be44570cac297b3035d76b169d6599637631cf37a1703326a0727073"
+checksum = "e80d6b275b1c922021939d561574bf376613493ae2b61c6963b15db0e8813562"
+dependencies = [
+ "string-interner",
+]
 
 [[package]]
 name = "wasmi_core"
-version = "0.13.0"
+version = "0.40.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "dcf1a7db34bff95b85c261002720c00c3a6168256dcb93041d3fa2054d19856a"
+checksum = "3a8c51482cc32d31c2c7ff211cd2bedd73c5bd057ba16a2ed0110e7a96097c33"
 dependencies = [
  "downcast-rs",
  "libm",
- "num-traits",
- "paste",
 ]
 
 [[package]]
-name = "wasmparser-nostd"
-version = "0.100.2"
+name = "wasmi_ir"
+version = "0.40.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "6e431a14c186db59212a88516788bd68ed51f87aa1e08d1df742522867b5289a"
+dependencies = [
+ "wasmi_core",
+]
+
+[[package]]
+name = "wasmparser"
+version = "0.221.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "d5a015fe95f3504a94bb1462c717aae75253e39b9dd6c3fb1062c934535c64aa"
+checksum = "9845c470a2e10b61dd42c385839cdd6496363ed63b5c9e420b5488b77bd22083"
 dependencies = [
- "indexmap-nostd",
+ "bitflags",
+ "indexmap",
 ]
 
 [[package]]
diff --git a/src/build/experimental/commands/compile/wasm_binary/rust/experimental_canister_template/Cargo.toml b/src/build/experimental/commands/compile/wasm_binary/rust/experimental_canister_template/Cargo.toml
index bee9adc030..f50e79e0f9 100644
--- a/src/build/experimental/commands/compile/wasm_binary/rust/experimental_canister_template/Cargo.toml
+++ b/src/build/experimental/commands/compile/wasm_binary/rust/experimental_canister_template/Cargo.toml
@@ -22,4 +22,4 @@ serde_json = "1.0.134"
 ic-wasi-polyfill = "0.6.4"
 wasmedge_quickjs = { git = "https://github.com/demergent-labs/wasmedge-quickjs", rev = "573c6c07316de64e4bb9a9561b079f265fd9bcc4" }
 # wasmedge_quickjs = { path = "/home/wasmedge-quickjs" }
-wasmi = "0.31.2"
+wasmi = "0.40.0"