Motherboard smoked up but still works somewhat

[vinnybidaisee]

I built my first PC a week ago and it was working perfect up on till today. Today I put it on and, a chip, which was under the first pcie slot and above the cmos battery on my asus b250h gaming motherboard started to smoke and make a crackling noise. I instantly unplugged the PC and waited 2 hours before I tried to turn it on again. Now when I press the power button, it turns on and off about 5 times and displays nothing on screen, then it turns on like normal. When it is on them chip is burning hot (I got burnt when I touched it) and the chip has 2 bumps on it. Any help or advice will be appreciated.

 

[USAFRet]

1. You need a new motherboard.

2. You need to determine what caused the original one to release the magic smoke.

First assumed culprit would be the PSU.
Second culprit is assembly, and something not connected quite right,