BSOD only on cold boot

I have this strange situation on my computer that it only BSOD on first cold boot. Once I reboot from BSOD, the computer will not crash again no matter how many time I tried to reboot it. Has anyone seen anything like this or have an experience with their computer in the past with something similar ?
 
My hard-drive is new and I have run multiple tests on it, showing no issue. Could it be the compatibility between some boards such as the video card, sound card or modem?
 
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