• I can confirm that the same thing happens when I build it from source using the latest github version when running on an ESP8266-ESP12-F. In my case it loops with this output :

    2nd boot version : 1.4(b1)
      SPI Speed      : 80MHz
      SPI Mode       : QIO
      SPI Flash Size & Map: 32Mbit(512KB+512KB)
    jump to run user1 @ 1000
    
    r�Invalid saved code in flash!
    
     ets Jan  8 2013,rst cause:2, boot mode:(3,6)
    
    load 0x40100000, len 1396, room 16 
    tail 4
    chksum 0x89
    load 0x3ffe8000, len 776, room 4 
    tail 4
    chksum 0xe8
    load 0x3ffe8308, len 540, room 4 
    tail 8
    chksum 0xc0
    csum 0xc0
    
    2nd boot version : 1.4(b1)
      SPI Speed      : 80MHz
      SPI Mode       : QIO
    ... etc.
    

    Any help would be appreciated.

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