Major Shareholder Zhaofeng Zhao Reduces Stake Below 5% via Estate Planning Transfer
BTDR sits 88% above its 52-week low of $6.916.
Summary
Zhaofeng Zhao, a significant beneficial owner of Bitdeer Technologies Group, transferred 5.5 million Class A ordinary shares for estate planning, reducing his reported stake to 4.92% and ceasing to be a >5% beneficial owner.
Key Events · Ownership and Investor Activity · BTDR
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Significant Share Transfer
Shinning Stone Invest Co., Ltd., wholly owned by Zhaofeng Zhao, transferred 5,500,000 Class A ordinary shares to Amazing Radiant Limited on April 17, 2026. This transaction, valued at approximately $71.6 million based on today's stock price, was for no consideration and related to Mr. Zhao's estate planning.
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Ownership Falls Below 5%
Following the transfer, Zhaofeng Zhao's beneficial ownership of Class A ordinary shares decreased to 9,402,764 shares, representing 4.92% of the outstanding Class A shares. As a result, the reporting persons ceased to be beneficial owners of more than 5% of the company's Class A ordinary shares.
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Amendment to Prior Filings
This filing is Amendment No. 2 to the initial Schedule 13D filed on May 31, 2023, and Amendment No. 1 filed on March 27, 2024, providing an update on the beneficial ownership of Mr. Zhao.
Analysis · BTDR · Crypto Assets
This Schedule 13D/A reports a significant disposition of shares by Zhaofeng Zhao, a key beneficial owner of Bitdeer Technologies Group. While the transfer of 5.5 million Class A ordinary shares was for no consideration and related to estate planning, it results in Mr. Zhao's reported beneficial ownership falling below the 5% threshold. This is a material change in the company's ownership structure, as a major holder is reducing their reported stake, which can be interpreted as a slight negative signal for investor confidence, even if not a direct market sale.
How filings like this one have moved
In the 30 days to Oct 21, 2026, 37.2% of the 999 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.80%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, BTDR was trading at $13.03 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $3.1B. The 52-week trading range was $6.92 to $27.80. This filing was assessed with neutral market sentiment and an importance score of 8 out of 10.