Following the news that that Bitmain filed for an initial public offering (IPO) on the Hong Kong stock exchange, the price of BCH surged almost 20%, now trading at around $522. Experts suggest that the key driver behind the rise of BCH was the financial report released by Bitmain as part of the prospectus for its upcoming IPO. But critics note that the half-year numbers obscure the fact that Bitmain recorded significantly lower results in the second quarter, which reflected the impact of the bear market.