I’ve been playing around with the micro:bit, to better be able to teach my son how to use it, and I’ve noticed that when powering from a battery directly, that is via the 3V/GND rails, there is no onboard regulation (which makes sense, when you think about it.)
The block schematic[1] shows that the JST (JST S2B-PH-SM4-TB) and USB connections pass through the regulator but as you can see, the rails don’t. (How could they, they can’t have two voltages at once?)

So if you power it directly with 3.6V for example (3 x 1.2V NiMH) the 3V rail will be 3.6V, and as in your case, a supply of 2.8V (assuming two alkaline batteries at 1.4V), the 3V rail will be 2.8V, thus under voltage for your peripheral. (Note, the micro:bit still runs fine as the nRF52832[2] chip on the v2 allows for 1.7–3.6V supply voltage range.)
Looking into this more, the nRF52832 specs[3] state that it has a “fully automatic LDO and DC/DC regulator system”. My understanding is that it will step-down an input voltage, but won’t step low input voltage up.
But let’s test it. I’ll connect a number of power supplies and test the voltage with all LEDs active, and with them all inactive.
1 x 5V USB (nominally 5V) via USB.
Rail reads: 3.328V (idle), 3.325V (active)
Regulator active (5V → 3.33V)
3 x 1.2V NiMH (nominally 3.6V, actual 3.85V) via JST.
Rail reads: 3.328V (idle), 3.325V (active)
Regulator active (3.85V → 3.33V)
3 x 1.2V NiMH (nominally 3.6V, actual 3.85V) via rails.
Rail reads: 3.36V (idle), 3.13V (active)
Regulator inactive, some voltage drop.
2 x 1.5V Zinc Carbon (nominally 3V, actual 2.59V) via JST.
Rail reads: 2.34V (idle), 2.21V (active)
Unknown, some voltage drop, but less than direct.
2 x 1.5V Zinc Carbon (nominally 3V, actual 2.59V) via rails.
Rail reads: 1.99V (idle), 1.88V (active)
Regulator inactive, some voltage drop.
It looks like there is some voltage drop for the direction connections but that could be the way I’m reading it, or some consumption along the way, but I think it’s fair to make the follow speculative statement:
- Regulator only active when powered via USB or JST ports
- Regulator can step down voltage, but cannot step up voltage
- Even under supplied, regulator appears to keep voltage more stable
Hope this little foray into the power supply helps you, or others who land here.
[1] https://tech.microbit.org/hardware/
[2] https://www.nordicsemi.com/products/nrf52832
[3] https://infocenter.nordicsemi.com/index.jsp?topic=%2Fstruct_nrf52%2Fstruct%2Fnrf52832.html