Preheat and prep (5 minutes): Preheat oven to 350°F (175°C). Grease two 8-inch pans and line with parchment. I skipped parchment once, and my cakes stuck – don’t do it!
Mix dry ingredients (3 minutes): Whisk flour, cocoa powder, baking powder, baking soda, and salt in a bowl. Set aside for even rising.
Cream butter and sugar (5-7 minutes): Beat butter and sugar on medium until light and fluffy – about 5 minutes with my stand mixer. This adds air for a moist homemade peanut butter chocolate cake.
Add eggs and vanilla (3 minutes): Mix in eggs one at a time, then vanilla. Scrape the bowl; it might look curdled, but that’s normal!
Combine wet and dry (5 minutes): Add half the dry mix, then buttermilk, then remaining dry mix, mixing on low until just combined. Overmixing makes a dense cake – I’ve tossed batches for this!
Divide and bake (28-32 minutes): Divide batter evenly, smooth tops. Bake until a toothpick comes out clean or with moist crumbs, rotating pans halfway.
Cool and release (10 minutes): Cool in pans 10 minutes, then invert onto a rack. Remove parchment and cool completely, about 1 hour.
Make frosting and decorate: Beat peanut butter and butter until smooth, add powdered sugar, vanilla, and milk until creamy. Frost layers, creating a golden-tan contrast with the dark cake. Garnish with chocolate shavings or chopped peanuts for a stunning best peanut butter chocolate cake.