Preheat oven to 325 degrees F.
Grease or spray a 14-cup bundt pan with butter or nonstick spray.
In a large bowl, whisk together flour, cocoa, baking soda and salt. In a smaller bowl, whisk together milk and sour cream.
Beat butter in the bowl of your electric mixer (fitted with the paddle attachment) until creamy, then add in sugar and beat on medium-high until fluffy, about 3-4 minutes, scraping down the sides if needed. Add in vanilla extract and beat until combined, then add in eggs one at a time, beating after each addition. Continue to scrape down sides if needed. Once combined, add in half of the flour mixer, beating on low until just combined, then add in the milk and sour cream, beating again. Finish but adding the rest of the dry ingredients, just beating until combined or even stirring with a spoon. Remove paddle attachment and fold in chocolate chips with a spatula. Pour in the greased bundt pan and bake for 45-50 minutes, or until cake is set. Do not overbake – cake will be dry! Let cool for about 30 minutes in the pan, then gently invert and let cake cool completely before covering in ganache.
Place chocolate in a large bowl. Heat cream in a small saucepan over low heat until it’s warm and bubbles appear on the edges. Once warm, pour over the chocolate and whisk constantly until smooth – about 2-3 minutes. Whisk in vanilla extract. Let ganache sit for 20-25 minutes until it thickens and “sets up” a bit. Once cake has cooled, pour overtop. Place in the fridge to firm up quickly while you make the peanut butter frosting.
peanut butter frosting
Melt peanut butter until creamy (I microwave for 30 seconds, stir well, then microwave again in 15 second increments until melting), then stir in coconut oil. Whisk in powdered sugar until smooth (about 1-2 minutes), then let sit for 15-20 minutes until it cools and sets enough to be pourable but not super runny. Pour over chocolate ganache and cover in sprinkles! Note: you cannot taste coconut whatsoever.