yeah, I'm lost on that one too. Everybody is now thinking about it being on the end, but I think it's referring to the handle that controls the speed of the chain's unwinding.
considering that you can actually drill stuff from a boat (and how!), I was very confused too. I feel the OP really should have explained what a technical term in the title means or just drop it.
Either way it's anchored now. Just not to the surface. Yonk!
this one didn't snap clean off though. it does show this 'drill bit' thing a bit clearer though, assuming that valve lifts it away from holding down the chain. Also, why on Earth is this a manual process?
edit: the main reason (afaik) it's so long is because it takes a good distance before the anchor becomes 'effective' in decreasing the drift radius from the position of the anchor(s) while usually using multiple, since a big boat will just plough the anchor through the ocean floor if it's just one. Current alone will do that just fine, which is without surface winds and so on. Those ships kind of don't brake for anybody.
It's not. The anchor chain coils up and drags the rest off the capstan due to inertia (we're talking 100-odd tonnes of chain here) once it has built up speed.
The fact that people stayed around that thing for so long shows how people get killed in these types of accidents. In the heat of the moment I get that you hope you can correct a situation but still. Better to lose some equipment than a worker.