This is happening with two 3916s I have, I'm also unable console into either of them. I've tried rebooting as well as resetting each 3916 by pressing the reset for at least 3 seconds.
According to the manual, blinking green STAT LED means : System is initializing and performing self tests.
I would say for some unknown reason this devices perform permanent resets. If you don't have console access its not possible to analyze this. I would recommend to open RMA case.
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