The present subject matter is directed to a spacer assembly for a bearing of a wind turbine and/or a bearing assembly for a wind turbine. The bearing assembly includes an outer race, an inner race rotatable relative to the outer race, a plurality of roller elements positioned between the inner and outer race, and a plurality of load-bearing spacers configured between the roller elements. Each of the spacers includes a spacer portion and an extension portion. Thus, each of the spacers is arranged to contact adjacent spacers within the bearing assembly via the extension portion such that the extension portions of the spacers are configured to transfer loads experienced by the bearing assembly rather than the loads passing through the roller elements.