However the ESP8266 is built around Tensilica's Xtensa, not ARM's Cortex. There currently is no support whatsoever for Xtensa in LLVM (let alone in Rust).
Current microcontroller work is on MSP430[3] with work being planned for Amtel AVR[4] since the AVR branch was merged into LLVM in November 2016. Xtensa is quite literally nowhere[5].
[0] guaranteed to build & binaries provided but tests are not automatically run
[1] supported in the codebase but no guarantees that it even builds
[2] only Core, no standard library
[3] https://github.com/rust-embedded/rfcs/issues/20