Hi, machine was running normally, playing games etc, nothing special going on atall.

Suddently the machine shuts down (as in power off). With a clicking noise.

Now i am unable to boot the machine. The PSU seems to make a clicking noise, and wont power on (the MB lights are on when power is enabled(not turned on but plugged in)).
 
I took out the GPU and the machine boots fine. If i plug it back in, the same thing happends.

I have a server which is the old PC where it was used in before making a new build in the start of the year. When i put it into this machine, the same thing happends.

So the error seems to follow the card itself - its out of warranty, i believe its about 4 years old or so. (not sure expected lifetime is but i would have thought it was more than this).

The questions now are:

1. Have anyone else had this issue and solved it? 
2. What steps might i take to diagnose the problem?
3. Did anyone successfully repair the device? I know a hardware guy who could replace bits and bobs inside it and order the components, but we'd need to know what other people replaced for it to work.

Normally i would buy a new one while diagnosing the old one, since its about time to get a new one anyway, but with nvidia's new line up coming very soon, the timing of the potential card death is very bad. I depend on my computer so i cant be without it for extended periods of time. But it would also suck to spend more money than nessacry to get a new one, since either i can get one from the new lineup or get the currentline up at considerably reduced prices.

I hope someone can help.

Just a few videos..There's more, and articles and forum posts too if you search.
 
FIRE! EVGA GTX 1080 FTW FIRE! Aftermath and Analysis
 
EVGA NVIDIA GeForce GTX 1080 VRM Catches Fire Caught On Camera

I would look at the warranty for the card and see if you are within that window but being a 1080 it would probably be outside that window. As for the next generation I am personally thinking we are probably looking at two months before they are in hands of gamers at least. My guess is reviewers will probably get them about a week after NVIDIA launches them with pre-orders filled in about 3 weeks if you get lucky enough to get it when it's in stock. Widespread availably might happen closer to end of the year as we saw with the 2080. 
 
It's a tough call since I understand the want to wait to upgrade but it's probably being without the system for at least two months and maybe much longer.

Oopsie - re-seated everything and booted without the two 8 pin connectors. Must have allowed the machine to boot without over-current protection kicking in, unfortunately the card immediately let the smoke out.
Looks like it's toast - looking for a replacement now.
Best of luck to you, hopefully not as disappointing as my ending!