Preheat oven to 350º F. Prepare two 9-inch cake pans by brushing with homemade cake release (cake goop), spraying with baking spray or buttering and lightly flouring.
For the Cake:
Add flour, malted milk powder, sugar, cocoa, baking powder, baking soda, salt and espresso powder to a large bowl or the bowl of a stand mixer. Whisk through to combine or, using your paddle attachment, stir through flour mixture until combined well.
Add milk, oil, eggs, and vanilla to flour mixture and mix together on medium speed until well combined. Reduce speed and carefully add boiling water to the cake batter. Beat on high speed for about 1 minute to add air to the batter. Cake batter will be very thin.
Distribute cake batter evenly between the two prepared cake pans. Bake for 30-35 minutes, until a toothpick or cake tester inserted in the center comes out clean. You can follow my tips for how to tell when your cake is done.
Remove from the oven and allow to cool for about 10 minutes, remove from the pan and cool completely.
For the malted chocolate buttercream frosting:
Add cocoa and malted milk powder to a large bowl or bowl of stand mixer. Whisk through to remove any lumps. Cream together with butter until well-combined with an electric mixer.
Add sugar and milk to cocoa mixture by adding 1 cup of sugar followed by about a tablespoon of milk. After each addition has been combined, turn mixer onto a high speed for about a minute. Repeat until all sugar and milk have been added.
Add vanilla extract and espresso powder and combine well.
If frosting appears too dry, add more milk, a tablespoon at a time until it reaches the right consistency. If it appears too wet and does not hold its form, add more confectioner’s sugar, a tablespoon at a time until it reaches the right consistency.