Hi Mike;
Could be a hardware fault. You run diags on your Mobo, RAM, HDDs?
You can also pick up a handy-dandy PSU tester, which I use for about $15 to test your PSU. I carry one with me in my backpack whenever I go to a Customer onsite location. As here: Link Removed
Of course, it's not as accurate as using a DMM, but it's a quick look to see if any of your voltage rails are seriously off.
Or if you have a spare PSU, you could swap out and try to reboot and see if the problem abates or persists. If problem persists, your current PSU might have an intermittent or short in it or a diode or transistor that's leaking and not holding voltage properly. A different known good PSU would rule that out if the problem abates.:fdance...