After an exciting first round, and more excitement in the second, Diaz was able to lock in a guillotine choke and roll to mount, forcing the tap from Jim Miller at 4:09 of Round 2.
Prior to the fight, Dana White said that—should Nate Diaz win—he would earn his shot at the lightweight title.
However, with the next title fight already confirmed, that being Benson Henderson against Frankie Edgar, Nate would have to sit for quite a while.
Should he choose not to sit out for several months, a matchup with Anthony Pettis is the only fight that really makes sense for Diaz, as everyone else viable is booked.
As far as Jim Miller, he was finished for the first time in his career, and is now 1-2 in his last three fights, with losses to Diaz and Benson Henderson.
He will certainly come back better, but if he wants to get back into title contention immediately, he should look for a fight with someone like Joe Lauzon or the winner of the upcoming Donald Cerrone-Jeremy Stephens matchup.
Another option is to see Miller drop to the featherweight division and look to make a title run there. I won't pretend to know how much weight Miller cuts to make the 155 division, but dropping a weight class could be Miller's only chance of holding a UFC title.