Pour in the hot water and mix gently until just combined. The batter will be quite runny and smooth, which is exactly what you want.
Pour the batter into your prepared pan. Bake for 30–40 minutes. It is done when a toothpick inserted into the center comes out clean. Let the cake cool in the pan for 20–30 minutes.
Make the frosting & assembly
Melt the butter in a saucepan over low heat. Remove from the heat, sift in the cocoa powder, and whisk until smooth.
Sift in the powdered sugar, add the buttermilk and vanilla extract, and whisk until the icing is completely smooth and shiny.
Pour the warm frosting directly over the cooled cake and smooth it out with an offset spatula. Let the frosting set for about 10 minutes, then slice and serve!
Notes
Room Temperature Ingredients: Ensure your eggs and buttermilk are at room temperature. Cold ingredients can cause the oil to seize and create an uneven batter texture.
Runny Batter: The batter will be very thin after adding the hot water. This is correct. It keeps the cake light and helps bloom the cocoa powder for a deeper flavor.
Flour Measurement: Use a kitchen scale or the spoon-and-level method. Scooping directly from the bag packs the flour and will make the cake dry.
Frosting Temperature: Let the cake cool for 20 to 30 minutes before frosting. If the cake is too hot, the icing will soak completely into the sponge instead of setting as a shiny glaze.
Buttermilk Substitute: Mix 1 tablespoon of lemon juice or white vinegar with enough whole milk to reach 1 cup. Let it sit for 10 minutes until slightly curdled before using.
Layer Cakes: This pour-on icing is too soft for stacking. If you choose to bake this batter in round cake layers, use a traditional thick buttercream instead.