Preheat your oven to 350 degrees F. Spray a 9x13 inch pan with nonstick baking spray.
In the bowl of your electric mixer bowl, stir together the flour, baking powder, baking soda, salt, cocoa, and sugar. Add in the softened butter and oil and mix on low speed until the mixture combines and begins to look like sand.
With the mixer on low speed, beat in the milk, coffee, and vanilla extract until combined. Beat in the eggs one at a time, scraping down the sides of the bowl as needed. Once the batter is smooth and combined, pour it into the baking pan.
Bake the cake for 30 to 35 minutes, or until a tested inserted into the center comes back clean. Remove the cake and let it cool completely.
If desired, you can invert the cake onto a platter or piece of parchment paper before frosting.
To make the frosting, beat the butter, cream cheese, and peanut butter in the bowl of your electric mixer until creamy and combined. Beat in the powdered sugar gradually, about 1 cup at a time, until a fluffy frosting begins to form. Beat in the vanilla extract and salt. If the mixture is too thick, beat in 1 tablespoon of milk.
Frost the cooled cake with the peanut butter frosting. If desired, you can drizzle melted chocolate over top. I usually just melt about ½ cup of chocolate chips in the microwave and drizzle it over top. Slice and serve!
