diff --git a/Cargo.lock b/Cargo.lock
index 1677ebb6b48..d1cc05410a5 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -1048,7 +1048,7 @@ dependencies = [
  "cfg-if",
  "libc",
  "miniz_oxide",
- "object 0.36.2",
+ "object",
  "rustc-demangle",
  "serde",
 ]
@@ -1105,15 +1105,6 @@ version = "0.9.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "d86b93f97252c47b41663388e6d155714a9d0c398b99f1005cbc5f978b29f445"
 
-[[package]]
-name = "bincode"
-version = "1.3.3"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "b1f45e9417d87227c7a56d22e471c6206462cba514c7590c09aff4cf6d1ddcad"
-dependencies = [
- "serde",
-]
-
 [[package]]
 name = "bindgen"
 version = "0.65.1"
@@ -1782,21 +1773,32 @@ dependencies = [
 
 [[package]]
 name = "cranelift-bforest"
-version = "0.105.4"
+version = "0.110.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "496c993b62bdfbe9b4c518b8b3e1fdba9f89ef89fcccc050ab61d91dfba9fbaf"
+checksum = "305d51c180ebdc46ef61bc60c54ae6512db3bc9a05842a1f1e762e45977019ab"
 dependencies = [
  "cranelift-entity",
 ]
 
+[[package]]
+name = "cranelift-bitset"
+version = "0.110.2"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "e3247afacd9b13d620033f3190d9e49d1beefc1acb33d5604a249956c9c13709"
+dependencies = [
+ "serde",
+ "serde_derive",
+]
+
 [[package]]
 name = "cranelift-codegen"
-version = "0.105.4"
+version = "0.110.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "96b922abb6be41fc383f5e9da65b58d32d0d0a32c87dfe3bbbcb61a09119506c"
+checksum = "bd7ca95e831c18d1356da783765c344207cbdffea91e13e47fa9327dbb2e0719"
 dependencies = [
  "bumpalo",
  "cranelift-bforest",
+ "cranelift-bitset",
  "cranelift-codegen-meta",
  "cranelift-codegen-shared",
  "cranelift-control",
@@ -1806,49 +1808,51 @@ dependencies = [
  "hashbrown 0.14.5",
  "log",
  "regalloc2",
+ "rustc-hash",
  "smallvec",
  "target-lexicon",
 ]
 
 [[package]]
 name = "cranelift-codegen-meta"
-version = "0.105.4"
+version = "0.110.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "634c2ed9ef8a04ca42535a3e2e7917e4b551f2f306f4df2d935a6e71e346c167"
+checksum = "450c105fa1e51bfba4e95a86e926504a867ad5639d63f31d43fe3b7ec1f1c9ef"
 dependencies = [
  "cranelift-codegen-shared",
 ]
 
 [[package]]
 name = "cranelift-codegen-shared"
-version = "0.105.4"
+version = "0.110.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "00cde1425b4da28bb0d5ff010030ea9cc9be7aded342ae099b394284f17cefce"
+checksum = "5479117cd1266881479908d383086561cee37e49affbea9b1e6b594cc21cc220"
 
 [[package]]
 name = "cranelift-control"
-version = "0.105.4"
+version = "0.110.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "1622125c99f1864aaf44e57971770c4a918d081d4b4af0bb597bdf624660ed66"
+checksum = "34378804f0abfdd22c068a741cfeed86938b92375b2a96fb0b42c878e0141bfb"
 dependencies = [
  "arbitrary",
 ]
 
 [[package]]
 name = "cranelift-entity"
-version = "0.105.4"
+version = "0.110.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "ea97887aca1c0cbe7f8513874dc3603e9744fb1cfa78840ca8897bd2766bd35b"
+checksum = "a48cb0a194c9ba82fec35a1e492055388d89b2e3c03dee9dcf2488892be8004d"
 dependencies = [
+ "cranelift-bitset",
  "serde",
  "serde_derive",
 ]
 
 [[package]]
 name = "cranelift-frontend"
-version = "0.105.4"
+version = "0.110.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "4cdade4c14183fe41482071ed77d6a38cb95a17c7a0a05e629152e6292c4f8cb"
+checksum = "8327afc6c1c05f4be62fefce5b439fa83521c65363a322e86ea32c85e7ceaf64"
 dependencies = [
  "cranelift-codegen",
  "log",
@@ -1858,15 +1862,15 @@ dependencies = [
 
 [[package]]
 name = "cranelift-isle"
-version = "0.105.4"
+version = "0.110.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "dbbe4d3ad7bd4bf4a8d916c8460b441cf92417f5cdeacce4dd1d96eee70b18a2"
+checksum = "56b08621c00321efcfa3eee6a3179adc009e21ea8d24ca7adc3c326184bc3f48"
 
 [[package]]
 name = "cranelift-native"
-version = "0.105.4"
+version = "0.110.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "c46be4ed1fc8f36df4e2a442b8c30a39d8c03c1868182978f4c04ba2c25c9d4f"
+checksum = "d51180b147c8557c1196c77b098f04140c91962e135ea152cd2fcabf40cf365c"
 dependencies = [
  "cranelift-codegen",
  "libc",
@@ -1875,14 +1879,14 @@ dependencies = [
 
 [[package]]
 name = "cranelift-wasm"
-version = "0.105.4"
+version = "0.110.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "a1d4c4a785a7866da89d20df159e3c4f96a5f14feb83b1f5998cfd5fe2e74d06"
+checksum = "019e3dccb7f15e0bc14f0ddc034ec608a66df8e05c9e1e16f75a7716f8461799"
 dependencies = [
  "cranelift-codegen",
  "cranelift-entity",
  "cranelift-frontend",
- "itertools 0.10.5",
+ "itertools 0.12.1",
  "log",
  "smallvec",
  "wasmparser",
@@ -4558,6 +4562,12 @@ dependencies = [
  "cc",
 ]
 
+[[package]]
+name = "id-arena"
+version = "2.2.1"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "25a2bc672d1148e28034f176e01fffebb08b35768468cc954630da77a1449005"
+
 [[package]]
 name = "ident_case"
 version = "1.0.1"
@@ -5696,10 +5706,10 @@ dependencies = [
 ]
 
 [[package]]
-name = "mach"
-version = "0.3.2"
+name = "mach2"
+version = "0.4.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "b823e83b2affd8f40a9ee8c29dbc56404c1e34cd2710921f2801e2cf29527afa"
+checksum = "19b955cdeb2a02b9117f121ce63aa52d08ade45de53e48fe6a38b39c10f6f709"
 dependencies = [
  "libc",
 ]
@@ -5759,15 +5769,6 @@ dependencies = [
  "libc",
 ]
 
-[[package]]
-name = "memoffset"
-version = "0.9.1"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "488016bfae457b036d996092f6cb448677611ce4449e970ceaf42695203f218a"
-dependencies = [
- "autocfg",
-]
-
 [[package]]
 name = "mime"
 version = "0.3.17"
@@ -6217,9 +6218,9 @@ checksum = "b8f8bdf33df195859076e54ab11ee78a1b208382d3a26ec40d142ffc1ecc49ef"
 
 [[package]]
 name = "object"
-version = "0.32.2"
+version = "0.36.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "a6a622008b6e321afc04970976f62ee297fdbaa6f95318ca343e3eebb9648441"
+checksum = "3f203fa8daa7bb185f760ae12bd8e097f63d17041dcdcaf675ac54cdf863170e"
 dependencies = [
  "crc32fast",
  "hashbrown 0.14.5",
@@ -6227,15 +6228,6 @@ dependencies = [
  "memchr",
 ]
 
-[[package]]
-name = "object"
-version = "0.36.2"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "3f203fa8daa7bb185f760ae12bd8e097f63d17041dcdcaf675ac54cdf863170e"
-dependencies = [
- "memchr",
-]
-
 [[package]]
 name = "oid-registry"
 version = "0.7.0"
@@ -8104,6 +8096,9 @@ name = "smallvec"
 version = "1.13.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "3c5e1a9a646d36c3599cd173a41282daf47c44583ad367b8e6837255952e5c67"
+dependencies = [
+ "serde",
+]
 
 [[package]]
 name = "smol"
@@ -9387,90 +9382,135 @@ checksum = "af190c94f2773fdb3729c55b007a722abb5384da03bc0986df4c289bf5567e96"
 
 [[package]]
 name = "wasm-encoder"
-version = "0.41.2"
+version = "0.212.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "972f97a5d8318f908dded23594188a90bcd09365986b1163e66d70170e5287ae"
+checksum = "501940df4418b8929eb6d52f1aade1fdd15a5b86c92453cb696e3c906bd3fc33"
 dependencies = [
  "leb128",
 ]
 
 [[package]]
 name = "wasmparser"
-version = "0.121.2"
+version = "0.212.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "9dbe55c8f9d0dbd25d9447a5a889ff90c0cc3feaa7395310d3d826b2c703eaab"
+checksum = "8d28bc49ba1e5c5b61ffa7a2eace10820443c4b7d1c0b144109261d14570fdf8"
 dependencies = [
+ "ahash",
  "bitflags 2.6.0",
+ "hashbrown 0.14.5",
  "indexmap 2.3.0",
  "semver",
+ "serde",
+]
+
+[[package]]
+name = "wasmprinter"
+version = "0.212.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "dfac65326cc561112af88c3028f6dfdb140acff67ede33a8e86be2dc6b8956f7"
+dependencies = [
+ "anyhow",
+ "termcolor",
+ "wasmparser",
 ]
 
 [[package]]
 name = "wasmtime"
-version = "18.0.4"
+version = "23.0.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "69472708b96ee90579a482bdbb908ce97e53a9e5ebbcab59cc29c3977bcab512"
+checksum = "07232e0b473af36112da7348f51e73fa8b11047a6cb546096da3812930b7c93a"
 dependencies = [
  "anyhow",
- "bincode",
+ "bitflags 2.6.0",
  "bumpalo",
+ "cc",
  "cfg-if",
- "gimli 0.28.1",
+ "hashbrown 0.14.5",
  "indexmap 2.3.0",
  "libc",
+ "libm",
  "log",
- "object 0.32.2",
+ "mach2",
+ "memfd",
+ "object",
  "once_cell",
  "paste",
+ "postcard",
+ "psm",
  "rayon",
  "rustix 0.38.34",
  "serde",
  "serde_derive",
- "serde_json",
+ "smallvec",
+ "sptr",
  "target-lexicon",
  "wasmparser",
+ "wasmtime-asm-macros",
  "wasmtime-cache",
+ "wasmtime-component-macro",
  "wasmtime-cranelift",
  "wasmtime-environ",
  "wasmtime-jit-icache-coherence",
- "wasmtime-runtime",
+ "wasmtime-slab",
+ "wasmtime-versioned-export-macros",
  "windows-sys 0.52.0",
 ]
 
 [[package]]
 name = "wasmtime-asm-macros"
-version = "18.0.4"
+version = "23.0.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "86292d6a9bf30c669582a40c4a4b8e0b8640e951f3635ee8e0acf7f87809961e"
+checksum = "e5a9c42562d879c749288d9a26acc0d95d2ca069e30c2ec2efce84461c4d62b3"
 dependencies = [
  "cfg-if",
 ]
 
 [[package]]
 name = "wasmtime-cache"
-version = "18.0.4"
+version = "23.0.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "8a180017db1233c902b992fea9484640d265f2fedf03db60eed57894cb2effcc"
+checksum = "38d5d5aac98c8ae87cf5244495da7722e3fa022aa6f3f4fcd5e3d6e5699ce422"
 dependencies = [
  "anyhow",
  "base64 0.21.7",
- "bincode",
  "directories-next",
  "log",
+ "postcard",
  "rustix 0.38.34",
  "serde",
  "serde_derive",
  "sha2 0.10.8",
- "toml 0.5.11",
+ "toml 0.8.19",
  "windows-sys 0.52.0",
- "zstd 0.11.2+zstd.1.5.2",
+ "zstd 0.13.2",
+]
+
+[[package]]
+name = "wasmtime-component-macro"
+version = "23.0.2"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "c0c3f57c4bc96f9b4a6ff4d6cb6e837913eff32e98d09e2b6d79b5c4647b415b"
+dependencies = [
+ "anyhow",
+ "proc-macro2",
+ "quote",
+ "syn 2.0.72",
+ "wasmtime-component-util",
+ "wasmtime-wit-bindgen",
+ "wit-parser",
 ]
 
+[[package]]
+name = "wasmtime-component-util"
+version = "23.0.2"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "1da707969bc31a565da9b32d087eb2370c95c6f2087c5539a15f2e3b27e77203"
+
 [[package]]
 name = "wasmtime-cranelift"
-version = "18.0.4"
+version = "23.0.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "b57d58e220ae223855c5d030ef20753377bc716d0c81b34c1fe74c9f44268774"
+checksum = "62cb6135ec46994299be711b78b03acaa9480de3715f827d450f0c947a84977c"
 dependencies = [
  "anyhow",
  "cfg-if",
@@ -9482,108 +9522,74 @@ dependencies = [
  "cranelift-wasm",
  "gimli 0.28.1",
  "log",
- "object 0.32.2",
+ "object",
  "target-lexicon",
  "thiserror",
  "wasmparser",
- "wasmtime-cranelift-shared",
  "wasmtime-environ",
  "wasmtime-versioned-export-macros",
 ]
 
-[[package]]
-name = "wasmtime-cranelift-shared"
-version = "18.0.4"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "1ba2cfdfdbde42f0f3baeddb62f3555524dee9f836c96da8d466e299f75f5eee"
-dependencies = [
- "anyhow",
- "cranelift-codegen",
- "cranelift-control",
- "cranelift-native",
- "gimli 0.28.1",
- "object 0.32.2",
- "target-lexicon",
- "wasmtime-environ",
-]
-
 [[package]]
 name = "wasmtime-environ"
-version = "18.0.4"
+version = "23.0.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "abbf3075d9ee7eb1263dc67949aced64d0f0bf27be8098d34d8e5826cf0ff0f2"
+checksum = "9bcaa3b42a0718e9123da7fb75e8e13fc95df7db2a7e32e2f2f4f0d3333b7d6f"
 dependencies = [
  "anyhow",
- "bincode",
+ "cranelift-bitset",
  "cranelift-entity",
  "gimli 0.28.1",
  "indexmap 2.3.0",
  "log",
- "object 0.32.2",
+ "object",
+ "postcard",
  "serde",
  "serde_derive",
  "target-lexicon",
- "thiserror",
+ "wasm-encoder",
  "wasmparser",
+ "wasmprinter",
  "wasmtime-types",
 ]
 
 [[package]]
 name = "wasmtime-jit-icache-coherence"
-version = "18.0.4"
+version = "23.0.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "dacd2aa30fb20fd8cd0eb4e664024a1ab28a02958529fa05bf52117532a098fc"
+checksum = "2cfee42dac5148fc2664ab1f5cb8d7fa77a28d1a2cf1d9483abc2c3d751a58b9"
 dependencies = [
+ "anyhow",
  "cfg-if",
  "libc",
  "windows-sys 0.52.0",
 ]
 
 [[package]]
-name = "wasmtime-runtime"
-version = "18.0.4"
+name = "wasmtime-slab"
+version = "23.0.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "d14e97c4bb36d91bcdd194745446d595e67ce8b89916806270fdbee640c747fd"
-dependencies = [
- "anyhow",
- "cc",
- "cfg-if",
- "indexmap 2.3.0",
- "libc",
- "log",
- "mach",
- "memfd",
- "memoffset",
- "paste",
- "psm",
- "rustix 0.38.34",
- "sptr",
- "wasm-encoder",
- "wasmtime-asm-macros",
- "wasmtime-environ",
- "wasmtime-versioned-export-macros",
- "wasmtime-wmemcheck",
- "windows-sys 0.52.0",
-]
+checksum = "42eb8f6515708ec67974998c3e644101db4186308985f5ef7c2ef324ff33c948"
 
 [[package]]
 name = "wasmtime-types"
-version = "18.0.4"
+version = "23.0.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "530b94c627a454d24f520173d3145112d1b807c44c82697a57e1d8e28390cde4"
+checksum = "046873fb8fb3e9652f3fd76fe99c8c8129007695c3d73b2e307fdae40f6e324c"
 dependencies = [
+ "anyhow",
  "cranelift-entity",
  "serde",
  "serde_derive",
- "thiserror",
+ "smallvec",
  "wasmparser",
 ]
 
 [[package]]
 name = "wasmtime-versioned-export-macros"
-version = "18.0.4"
+version = "23.0.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "5399c175ddba4a471b9da45105dea3493059d52b2d54860eadb0df04c813948d"
+checksum = "99c02af2e9dbeb427304d1a08787d70ed0dbfec1af2236616f84c9f1f03e7969"
 dependencies = [
  "proc-macro2",
  "quote",
@@ -9591,10 +9597,16 @@ dependencies = [
 ]
 
 [[package]]
-name = "wasmtime-wmemcheck"
-version = "18.0.4"
+name = "wasmtime-wit-bindgen"
+version = "23.0.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "e1711f429111e782fac0537e0b3eb2ab6f821613cf1ec3013f2a0ff3fde41745"
+checksum = "75f528f8b8a2376a3dacaf497d960216dd466d324425361e1e00e26de0a7705c"
+dependencies = [
+ "anyhow",
+ "heck 0.4.1",
+ "indexmap 2.3.0",
+ "wit-parser",
+]
 
 [[package]]
 name = "web-sys"
@@ -9863,6 +9875,24 @@ dependencies = [
  "windows-sys 0.48.0",
 ]
 
+[[package]]
+name = "wit-parser"
+version = "0.212.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "ceeb0424aa8679f3fcf2d6e3cfa381f3d6fa6179976a2c05a6249dd2bb426716"
+dependencies = [
+ "anyhow",
+ "id-arena",
+ "indexmap 2.3.0",
+ "log",
+ "semver",
+ "serde",
+ "serde_derive",
+ "serde_json",
+ "unicode-xid",
+ "wasmparser",
+]
+
 [[package]]
 name = "ws_stream_wasm"
 version = "0.7.4"
diff --git a/crates/services/upgradable-executor/Cargo.toml b/crates/services/upgradable-executor/Cargo.toml
index 1faec3abf13..f3f8de7c19b 100644
--- a/crates/services/upgradable-executor/Cargo.toml
+++ b/crates/services/upgradable-executor/Cargo.toml
@@ -20,7 +20,7 @@ fuel-core-wasm-executor = { workspace = true, optional = true }
 parking_lot = { workspace = true, optional = true }
 postcard = { workspace = true, optional = true }
 tracing = { workspace = true, optional = true }
-wasmtime = { version = "18.0.1", default-features = false, features = [
+wasmtime = { version = "23.0.2", default-features = false, features = [
   "cache",
   "cranelift",
   "parallel-compilation",