110 amps is the vddc current. That is the current supplied to the GPU itself. And it is being supplied at 1.148 volts, so the reported power consumption of the GPU core will be P = VI, or 126 watts. Not unreasonable for that GPU.
PSU should be fine for virtually any single card system, although you don’t specify what the rest of the components the system is running.
It sounds like the card is throttling to self protect although it’s unlikely to be the core temperature that is the problem. Could be the vrms or something else.
Check the windows event logs for graphics related errors. Try a different version driver.
If you think the problem is heat related then take the side off your case and blow air in with a large desk fan. If the time before throttling increases, then you have a heat related issue. If not I’d guess overcurrent protection but may very well be wrong.
Pretty sure a thread like this came up on the anandtech forum a while back. I browsed it but don’t have the card so didn’t really pay great attention.