The Great Blue Hole is a large submarine sinkhole off the coast of Belize

The Great Blue Hole is a large submarine sinkhole off the coast of Belize. It lies near the center of Lighthouse Reef, a small atoll 70 km (43 mi) from the mainland and Belize City. The hole is circular in shape, over 300 m (984 ft) across and 124 m (407 ft) deep.

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And I thought my x had the biggest hoe haha

Stalagmites and stalactites underwater, maybe at one point this was not under water

Ok but why has it formed like so?

The hole is 300m in diameter... Why does the illustration show the depth(124m) to be so much more than the width of the hole?