This cake is like a slice of hot chocolate! Since it’s made without flour, it actually starts from melted milk chocolate base. Chopped REESE’S Peanut Butter Cups and a REESE’S Peanut Butter glaze make it extra decadent.
Heat oven to 350° F. Line two 10-inch round cake pans with foil, extending foil beyond pan sides. Lightly coat foil with non-stick cooking spray.
Place chocolate chips in large heatproof bowl. Combine water and 1-1/4 cups sugar in medium saucepan. Bring to a boil, stirring constantly, over medium heat. Pour over chocolate; stir with whisk until chocolate is melted and mixture is blended and smooth. Add butter, stirring with whisk until thoroughly blended. Set aside.
Beat eggs and remaining 3/4 cup sugar in extra large bowl on high speed of electric mixer until pale yellow, almost white and mixture forms a ribbon on the batter that will hold its shape for a few minutes when beaters are lifted. (This will take about 10 minutes using a stand mixer and about 40 minutes if using a hand mixer). Gently fold egg mixture into chocolate mixture; divide batter into prepared pans. Sprinkle 1 cup chopped peanut butter cups over each pan.
Bake in water bath 40 to 45 minutes or until crust forms. Remove from water bath, cool to room temperature on wire rack. Cover; refrigerate 8 hours or overnight.
Lift 1 cake layer from pan, peel back foil. Invert onto serving plate and completely remove foil. Remove second cake layer from pan; peel back foil and invert onto first layer. Remove foil. Prepare and pour glaze on top of chilled cake, spreading evenly over cake top. Garnish with additional chopped peanut butter cups, if desired. Cover; refrigerate leftover cake. Makes 12 servings.
Beat all ingredients in medium bowl until thick and shiny. If necessary, add more milk to get desired consistency. Makes 2 cups glaze.
Note: If you don't have two 10-inch round cake pans or oven is not large enough to bake two pans in a water bath at the same time, cake layers can be prepared and baked one layer at a time. Follow preparation instructions using half the ingredients for each layer.
* The % Daily Value tells you how much a nutrient in a serving of food contributes to a daily diet 2,000 calories a day is used for general nutritional advice.