Kernel panic in beaglebone black

I am trying to flash my beaglebone black board with the latest image provided on the beaglebone website "https://beagleboard.org/latest-images". I also did follow the steps required, after following them, I see the following log from the debug window:

Tearing Down script environment
==> Unmounting /tmp
blockdev: cannot open /dev/mmcblk0: No such file or directory
==> Stopping Cylon LEDs ...
==> Setting LEDs to
[   23.016501] Kernel panic - not syncing: Attempted to kill init! exitcode=0x00000100
[   23.016501]
[   23.025702] CPU: 0 PID: 1 Comm: init-eMMC-flash Not tainted 4.4.91-ti-r133 #1
[   23.032867] Hardware name: Generic AM33XX (Flattened Device Tree)
[   23.039030] [<c001bed0>] (unwind_backtrace) from [<c0015978>] (show_stack+0x20/0x24)
[   23.046820] [<c0015978>] (show_stack) from [<c05c1674>] (dump_stack+0x8c/0xa0)
[   23.054087] [<c05c1674>] (dump_stack) from [<c0161398>] (panic+0xfc/0x27c)
[   23.061003] [<c0161398>] (panic) from [<c00487e0>] (complete_and_exit+0x0/0x2c)
[   23.068348] [<c00487e0>] (complete_and_exit) from [<c004887c>] (do_group_exit+0x50/0xe0)
[   23.076478] [<c004887c>] (do_group_exit) from [<c004892c>] (__wake_up_parent+0x0/0x30)
[   23.084437] [<c004892c>] (__wake_up_parent) from [<c0010d40>] (ret_fast_syscall+0x0/0x44)
[   23.092663] ---[ end Kernel panic - not syncing: Attempted to kill init! exitcode=0x00000100
[   23.092663]
[   31.764034] random: nonblocking pool is initialized

The board just sits on the last message and does nothing. Please help me in understanding what am I doing wrong.