Preheat oven to 350°F (177°C). Generously grease a 12×17-inch half sheet/jelly roll pan. Set aside.

Heat the butter, water, and cocoa powder together in a large saucepan over medium heat. Whisk constantly until the butter has melted and everything is smooth and combined. Set aside. In a large bowl, whisk the flour, baking soda, and salt together. Pour the warm chocolate/butter mixture on top, then slowly whisk together until combined. It will be very thick.

Whisk the eggs, granulated sugar, and brown sugar together in a medium bowl. The mixture will be thick. Whisk in the vanilla until combined, then pour into the chocolate batter and whisk until combined. Finally, whisk in the buttermilk. Pour the chocolate batter into the sheet pan.

Bake for 15-20 minutes. (Mine takes exactly 17 minutes.) Use a toothpick to test for doneness: stick it into the cake. If the toothpick comes out clean, the cake is done. If not, continue baking. Remove cake from the oven and set the pan on a wire rack. Allow the cake to cool completely in the pan before frosting. The refrigerator helps speed things up, if you have room for the large pan!

Using a handheld or stand mixer fitted with a whisk attachment, beat softened butter and peanut butter together on medium-high speed for 2 minutes until completely smooth and creamy. Add the confectioners’ sugar, cream, vanilla extract, and salt. Beat on low speed for about 20 seconds, then gradually increase to high speed. Beat on high for 1 minute until combined and frosting is fluffy. Taste; add more salt if needed. To thicken, add more confectioners’ sugar and to thin, add more cream. Makes about 4 cups of frosting.

Spread frosting all over cooled cake, and then top with toppings, if using. Slice and serve. Cover leftovers tightly and store in the refrigerator for up to 5 days. It’s so good cold!