Forum Discussion
It's not a fan issue.
It might be a failed or obstructed proximity sensor. This seems to be one of the most common hardware failures, according to Fix my Oculus.
It could also be caused by sweat getting into the headset.
Some users blame the software updates themselves, but I've seen that reported across a lot of different OS versions, and they don't break everyone's headset, so the jury is out on that one.
A small number of users simply left their headsets on charge and they "fixed themselves" after a while... so maybe the headset was still updating or got a little stuck temporarily.
EDIT: when you say it booted to a grey screen, could this be the screen where you are supposed to click your profile? I had a glitch once where the profile menu wouldn't appear. The workaround was to loosen the headstrap so I could pull the headset away from my eyes slightly by about 1-2 cm - it made the profile menu appear. Then while holding the headset slightly in front of my face, I clicked on my profile to get in. The problem disappeared after the next couple of software updates: