Go to hardware manager and see if you have any weird devices that are saying "give me drivers" (the yellow question mark icon next to it). It's possible you're missing a driver because it got corrupted before the first format, and either forgot to install it, or didn't know it was needed.

Since it's giving an error it doesn't sound like PSU. If it was the PSU it would either power down, or reboot without an error. If it seems to be the PSU replace it post haste, because when PSUs go they can sometimes go specacularly. Mine went and fried about $1000 worth of hardware

If not the PSU it's possible your CPU is overheating. Check the fan when the computer is on and make sure it's running. If it's not, fix it/replace it, and if it is it's likely not an overheating problem.

If you have a super techie friend have them look at the error reporting and see if the can ID the device. It's possible that it's a motherboard error if no other device seems broken, because some motherboards use weird internal devices that detect funny and don't require drives, and when they break generally weird things happen.