Weird, I have the same garbled screen when I turn on the printer, but it goes away and the printer works perfectly. I assumed it was just a harmless boot-display-firmware-glitch. I think it is the same for you but after the firmware goes to the next step in the boot-up process, it hits a problem and halts.
If it is not something else externally (bad wall socket, power supply, damaged power supply cable), then maybe the board died. Where did you buy the printer?