[Bisected] RX 5700XT Power Consumption On Kernel 5.12.13

Brief summary of the problem:

I've previously used kernel 5.12.12 without issues. Today I've updated to 5.12.13 and noticed a rather significant problem, the SCLK remains locked at the maximum frequency (2090 MHz in my case) with GPU usage pegged at 99% at idle (monitored via gpu_metrics and sensors). This increased idle power consumption from 8-10 W @ 0.750V in 5.12.12 to a whopping 70-110 W @ 1.18-1.2V in 5.12.13 and also increased temperatures by roughly 15 degrees. Memory clock remains normal at idle: 100 MHz and memory temperatures are the same as well.

I've tried the same without Xorg/Wayland in a TTY environment and the issue is the same, max SCLK / usage and high power consumption.

Hardware description:

• CPU: Ryzen 7 3700X
• GPU: Sapphire Pulse RX 5700XT
• System Memory: Crucial Ballistix Sport LT 2x16 GB (32 GB) @ 3200 MHz
• Display(s): 1440p 144 Hz AGON AG271QX
• Type of Diplay Connection: DisplayPort

System information:

• Distro name and Version: Arch Linux
• Kernel version: 5.12.13
• Custom kernel: N/A
• AMD package version: No package

How to reproduce the issue:

• Install kernel 5.12.13 and boot the system
• Monitor GPU power consumption and temperatures via lm_sensors or frequencies from gpu_metrics.