SCHEDULE: Bitdeer Shareholder Shinning Stone Reduces Stake

Shinning Stone Invest Co., Ltd. and Zhaofeng Zhao have reduced their beneficial ownership in Bitdeer Technologies Group to below 5% following an estate planning transfer.

Summary

• Shinning Stone Invest Co., Ltd. transferred 5,500,000 Class A ordinary shares to Amazing Radiant Limited on April 17, 2026.
• The transfer was conducted for no consideration as part of estate planning by Mr. Zhaofeng Zhao.
• Following the transaction, the reporting persons now beneficially own 9,402,764 Class A ordinary shares.
• This ownership level represents 4.92% of the outstanding Class A ordinary shares, falling below the 5% reporting threshold.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral administrative filing reflecting estate planning rather than a fundamental shift in the company's business or market position.

Positives

• The transaction is explicitly identified as an internal estate planning move rather than a market-based divestment.
• No brokerage commissions were incurred in the transfer of shares.

Negatives

• The reporting persons have dropped below the 5% beneficial ownership threshold, which may reduce their influence or reporting obligations regarding future changes in holdings.

Risks

• The reduction in ownership stake may be perceived by some market participants as a decrease in long-term commitment from a significant shareholder.

Future Outlook

The reporting persons state they have no current plans or proposals that would result in any of the actions described in Item 4 of Schedule 13D, such as acquiring more securities or influencing control.

Management Comments

• The reporting persons certify that the information set forth in the statement is true, complete, and correct.

Industry Context

StockSavvy.ai notes that internal share transfers for estate planning are common among major shareholders in the crypto-mining and technology sector, often signaling personal wealth management rather than a change in corporate strategy or lack of confidence in the issuer.

Comparison to Industry Standards

• The filing follows standard SEC disclosure requirements for beneficial owners dropping below the 5% reporting threshold.
• The use of a Joint Filing Agreement is consistent with standard practice for affiliated reporting persons.

Related Party Transactions

• Transfer of 5,500,000 shares to Amazing Radiant Limited, a company associated with the reporting person's estate planning.

Stakeholder Impact

• Shareholders may note the reduction in the reporting person's stake, though the shares remain within the same beneficial ownership sphere.

Next Steps

• The reporting persons are no longer required to file further amendments to this Schedule 13D unless their beneficial ownership changes significantly or they re-cross the 5% threshold.

Key Dates

Keywords

Bitdeer Technologies Group, Schedule 13D, Shareholder Disclosure, Estate Planning, Shinning Stone Invest, Zhaofeng Zhao