Very often, my FPS dips down to single digits, or the very low double digits when I have mipmapping on, when it is off though the game runs fine. This does not happen in 1.15.2 or versions before it.
When I check with the Debug Pie, it appears that the game is ticking too much which is causing the intense lag.
I can confirm that it is not my computer since this doesn't happen on other versions besides the 1.16 snapshots.
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Update: I have realized that for some reason, it's mipmapping that causes this lag, when it is turned off the game runs fine. This doesn't happen on 1.15.2, or on any version before that as far as I know.