diff --git a/console/network/src/canary_v0.rs b/console/network/src/canary_v0.rs
index 1c0cf02143..1fb44dbb4a 100644
--- a/console/network/src/canary_v0.rs
+++ b/console/network/src/canary_v0.rs
@@ -133,9 +133,9 @@ impl Network for CanaryV0 {
     /// The network edition.
     const EDITION: u16 = 0;
     /// The genesis block coinbase target.
-    const GENESIS_COINBASE_TARGET: u64 = (1u64 << 10).saturating_sub(1);
+    const GENESIS_COINBASE_TARGET: u64 = (1u64 << 29).saturating_sub(1);
     /// The genesis block proof target.
-    const GENESIS_PROOF_TARGET: u64 = 1u64 << 8;
+    const GENESIS_PROOF_TARGET: u64 = 1u64 << 27;
     /// The fixed timestamp of the genesis block.
     const GENESIS_TIMESTAMP: i64 = 1715776496 /* 2024-05-15 12:34:56 UTC */;
     /// The network ID.
diff --git a/console/network/src/lib.rs b/console/network/src/lib.rs
index 47210b3e90..80c392e097 100644
--- a/console/network/src/lib.rs
+++ b/console/network/src/lib.rs
@@ -97,14 +97,14 @@ pub trait Network:
     const GENESIS_TIMESTAMP: i64;
     /// The genesis block coinbase target.
     #[cfg(not(feature = "test"))]
-    const GENESIS_COINBASE_TARGET: u64 = (1u64 << 10).saturating_sub(1);
+    const GENESIS_COINBASE_TARGET: u64 = (1u64 << 29).saturating_sub(1);
     /// The genesis block coinbase target.
     /// This is deliberately set to a low value (32) for testing purposes only.
     #[cfg(feature = "test")]
     const GENESIS_COINBASE_TARGET: u64 = (1u64 << 5).saturating_sub(1);
     /// The genesis block proof target.
     #[cfg(not(feature = "test"))]
-    const GENESIS_PROOF_TARGET: u64 = 1u64 << 8;
+    const GENESIS_PROOF_TARGET: u64 = 1u64 << 27;
     /// The genesis block proof target.
     /// This is deliberately set to a low value (8) for testing purposes only.
     #[cfg(feature = "test")]
diff --git a/console/network/src/mainnet_v0.rs b/console/network/src/mainnet_v0.rs
index a0d5f397cf..16640a0d43 100644
--- a/console/network/src/mainnet_v0.rs
+++ b/console/network/src/mainnet_v0.rs
@@ -133,6 +133,20 @@ impl Network for MainnetV0 {
 
     /// The network edition.
     const EDITION: u16 = 0;
+    /// The genesis block coinbase target.
+    #[cfg(not(feature = "test"))]
+    const GENESIS_COINBASE_TARGET: u64 = (1u64 << 29).saturating_sub(1);
+    /// The genesis block coinbase target.
+    /// This is deliberately set to a low value (32) for testing purposes only.
+    #[cfg(feature = "test")]
+    const GENESIS_COINBASE_TARGET: u64 = (1u64 << 5).saturating_sub(1);
+    /// The genesis block proof target.
+    #[cfg(not(feature = "test"))]
+    const GENESIS_PROOF_TARGET: u64 = 1u64 << 27;
+    /// The genesis block proof target.
+    /// This is deliberately set to a low value (8) for testing purposes only.
+    #[cfg(feature = "test")]
+    const GENESIS_PROOF_TARGET: u64 = 1u64 << 3;
     /// The fixed timestamp of the genesis block.
     const GENESIS_TIMESTAMP: i64 = 1696118400 /* 2023-10-01 00:00:00 UTC */;
     /// The network ID.
diff --git a/console/network/src/testnet_v0.rs b/console/network/src/testnet_v0.rs
index 4990c54336..a33c96f0ad 100644
--- a/console/network/src/testnet_v0.rs
+++ b/console/network/src/testnet_v0.rs
@@ -133,9 +133,9 @@ impl Network for TestnetV0 {
     /// The network edition.
     const EDITION: u16 = 0;
     /// The genesis block coinbase target.
-    const GENESIS_COINBASE_TARGET: u64 = (1u64 << 10).saturating_sub(1);
+    const GENESIS_COINBASE_TARGET: u64 = (1u64 << 29).saturating_sub(1);
     /// The genesis block proof target.
-    const GENESIS_PROOF_TARGET: u64 = 1u64 << 8;
+    const GENESIS_PROOF_TARGET: u64 = 1u64 << 27;
     /// The fixed timestamp of the genesis block.
     const GENESIS_TIMESTAMP: i64 = 1715776496 /* 2024-05-15 12:34:56 UTC */;
     /// The network ID.
diff --git a/parameters/src/canary/genesis.rs b/parameters/src/canary/genesis.rs
index 36af9bea70..08a0d0299f 100644
--- a/parameters/src/canary/genesis.rs
+++ b/parameters/src/canary/genesis.rs
@@ -27,6 +27,6 @@ mod tests {
     #[test]
     fn test_genesis_block() {
         let bytes = GenesisBytes::load_bytes();
-        assert_eq!(14947, bytes.len() as u64, "Update me if serialization has changed");
+        assert_eq!(20083, bytes.len() as u64, "Update me if serialization has changed");
     }
 }
diff --git a/parameters/src/canary/resources/block.genesis b/parameters/src/canary/resources/block.genesis
index 7f133c4c60..74a775b9c7 100644
Binary files a/parameters/src/canary/resources/block.genesis and b/parameters/src/canary/resources/block.genesis differ
diff --git a/parameters/src/mainnet/genesis.rs b/parameters/src/mainnet/genesis.rs
index 5abd5770e1..08a0d0299f 100644
--- a/parameters/src/mainnet/genesis.rs
+++ b/parameters/src/mainnet/genesis.rs
@@ -27,6 +27,6 @@ mod tests {
     #[test]
     fn test_genesis_block() {
         let bytes = GenesisBytes::load_bytes();
-        assert_eq!(14955, bytes.len() as u64, "Update me if serialization has changed");
+        assert_eq!(20083, bytes.len() as u64, "Update me if serialization has changed");
     }
 }
diff --git a/parameters/src/mainnet/resources/block.genesis b/parameters/src/mainnet/resources/block.genesis
index e2b47710fa..5ef9829adb 100644
Binary files a/parameters/src/mainnet/resources/block.genesis and b/parameters/src/mainnet/resources/block.genesis differ
diff --git a/parameters/src/testnet/genesis.rs b/parameters/src/testnet/genesis.rs
index d3a8b49351..08a0d0299f 100644
--- a/parameters/src/testnet/genesis.rs
+++ b/parameters/src/testnet/genesis.rs
@@ -27,6 +27,6 @@ mod tests {
     #[test]
     fn test_genesis_block() {
         let bytes = GenesisBytes::load_bytes();
-        assert_eq!(14943, bytes.len() as u64, "Update me if serialization has changed");
+        assert_eq!(20083, bytes.len() as u64, "Update me if serialization has changed");
     }
 }
diff --git a/parameters/src/testnet/resources/block.genesis b/parameters/src/testnet/resources/block.genesis
index 53847e49c9..8fa9ad161e 100644
Binary files a/parameters/src/testnet/resources/block.genesis and b/parameters/src/testnet/resources/block.genesis differ
diff --git a/synthesizer/src/vm/finalize.rs b/synthesizer/src/vm/finalize.rs
index 183b994c06..1ab759736b 100644
--- a/synthesizer/src/vm/finalize.rs
+++ b/synthesizer/src/vm/finalize.rs
@@ -1070,6 +1070,10 @@ impl<N: Network, C: ConsensusStorage<N>> VM<N, C> {
                                 *amount >= MIN_DELEGATOR_STAKE,
                                 "Ratify::Genesis(..) the delegator {address} must stake at least {MIN_DELEGATOR_STAKE}",
                             );
+                            // If the corresponding validator is not a committee member yet, then continue.
+                            if !committee.is_committee_member(*validator_address) {
+                                continue;
+                            }
                             // If the address is a delegator, check that the corresponding validator is open.
                             ensure!(
                                 committee.is_committee_member_open(*validator_address),
diff --git a/synthesizer/src/vm/mod.rs b/synthesizer/src/vm/mod.rs
index 9301e68cf2..d1750c614b 100644
--- a/synthesizer/src/vm/mod.rs
+++ b/synthesizer/src/vm/mod.rs
@@ -313,14 +313,17 @@ impl<N: Network, C: ConsensusStorage<N>> VM<N, C> {
         bonded_balances: IndexMap<Address<N>, (Address<N>, Address<N>, u64)>,
         rng: &mut R,
     ) -> Result<Block<N>> {
-        // Retrieve the total stake.
-        let total_stake = committee.total_stake();
+        // Retrieve the total bonded balance.
+        let total_bonded_amount = bonded_balances
+            .values()
+            .try_fold(0u64, |acc, (_, _, x)| acc.checked_add(*x).ok_or(anyhow!("Invalid bonded amount")))?;
         // Compute the account supply.
         let account_supply = public_balances
             .values()
             .try_fold(0u64, |acc, x| acc.checked_add(*x).ok_or(anyhow!("Invalid account supply")))?;
         // Compute the total supply.
-        let total_supply = total_stake.checked_add(account_supply).ok_or_else(|| anyhow!("Invalid total supply"))?;
+        let total_supply =
+            total_bonded_amount.checked_add(account_supply).ok_or_else(|| anyhow!("Invalid total supply"))?;
         // Ensure the total supply matches.
         ensure!(
             total_supply == N::STARTING_SUPPLY,
diff --git a/synthesizer/tests/expectations/vm/execute_and_finalize/test_rand.out b/synthesizer/tests/expectations/vm/execute_and_finalize/test_rand.out
index d71649dc35..6380117c04 100644
--- a/synthesizer/tests/expectations/vm/execute_and_finalize/test_rand.out
+++ b/synthesizer/tests/expectations/vm/execute_and_finalize/test_rand.out
@@ -19,7 +19,7 @@ outputs:
     test_rand.aleo/rand_chacha_check:
       outputs:
       - '{"type":"future","id":"3094014759641313043901697261267946468626327163450942596641947962222295207390field","value":"{\n  program_id: test_rand.aleo,\n  function_name: rand_chacha_check,\n  arguments: [\n    0field,\n    false\n  ]\n}"}'
-  speculate: the execution was accepted
+  speculate: the execution was rejected
   add_next_block: succeeded.
 - verified: true
   execute: