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by tyingq 2055 days ago
125Mhz is the frequency you get with 100 base tx. It's basically the baud rate of 100mb plus the 5 bits to encode 4 bits overhead. 100 * 5/4 = 125.

As you mention, this is toggling the expected 125Mhz on and off. It's not noise, it's "the signal".