Bad power supply is the most likely cause...in fact, it is very probable that your original motherboard is fine.
A computer power supply is a complex critter that supplies several different voltages. One of the supplied voltages could go out and the PSU would partially function...but it wouldn't be able to provide the 'power good' signal that the motherboard needs to power up...so, it could be 'mostly dead'...the fans will attempt to start, etc, until the motherboard doesn't receive the 'power good' signal and shuts everything down, again.




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