Preheat your oven to 350°F (175°C). Grease and line two 9-inch cake pans with parchment paper.
In a large bowl, whisk together the flour, cocoa powder, sugar, baking soda, baking powder, salt, and espresso powder (if using).
In a separate bowl, whisk the oil, eggs, sour cream, buttermilk, and vanilla until smooth. Gradually add the wet ingredients to the dry, mixing gently. Pour in the hot water or coffee and stir until just combined—a few lumps are okay.
Gently fold in the mini chocolate chips tossed in flour.
Divide the batter evenly among the prepared cake pans. Bake for 32–35 minutes, or until a toothpick inserted into the center comes out mostly clean with just a few moist crumbs. Let the cakes cool completely on a wire rack.
For the peanut butter frosting, beat the softened butter and peanut butter together until creamy and smooth. Add in confectioners’ sugar, vanilla, salt, and heavy cream. Beat on high until light, fluffy, and fully incorporated.
For the chocolate ganache, bring the heavy cream to a gentle simmer. Pour over the chopped chocolate and let sit for 2–3 minutes, then whisk until smooth and glossy.
Once cakes are completely cool, spread a generous layer of peanut butter frosting over the first layer. Place the second cake on top and cover the entire cake with more frosting.
Pour the cooled ganache over the top, letting it drip down the sides for that bakery-style finish. Garnish with chopped peanut butter cups if desired.
Slice, serve, and enjoy!
Notes
Store leftover cake tightly covered in the refrigerator for up to 5 days. The flavors improve by day two!