Preheat your oven to 350 °F. Lightly grease a 10-inch bundt pan and sprinkle it with flour.
In a large mixing bowl, beat a 1/2 cup of the peanut butter and the butter together on high until smooth and creamy, about 2 minutes.
Add the eggs and just 1/2 a cup of buttermilk and continue beating on high until combined, about 1 minute.
Add the flour, sugar, water, baking powder and vanilla and beat on low until smooth, about 3 minutes.
Pour the batter into the prepared pan and bake for 45 minutes or until an inserted toothpick can be removed clean. *See Notes
Cool in the pan for 15 minutes before flipping it out onto a cooling rack to cool completely. Turn it out on a cake plate and glaze.
Meanwhile, we’ll make the glaze. In a small mixing bowl, whisk together the confection sugar, the remaining peanut butter and the remaining buttermilk. Spoon the glaze over the top of the cooled cake and allow it to drip down the sides. Sprinkle the glaze with the chopped peanuts and enjoy!
Notes
You want to use a 10-cup bundt pan and only fill it 3/4 full. If you have extra batter, make cupcakes!Putting the bundt pan on a baking sheet before placing it in the oven makes turning the cake and removing it from the oven easier.
This recipe was calculated using the exact brands and measurements I used to make this recipe. If you are following a strict diet please note changing anything will cause the nutritional info to change. My calculations are intended as a guide only.