Preheat oven to 350 degrees F. Line 2 12-count cupcake pans with paper liners and set aside.
In the bowl of a stand mixer fitted with a paddle attachment combine the dry ingredients.
In a large liquid measuring cup or a medium mixing bowl combine the oil, buttermilk, eggs, and vanilla. While whisking, slowly drizzle in the hot water till combined.
Pour the liquid ingredients into the stand mixer bowl and mix till well combined, about 2-3 minutes. Scrape the sides of the bowl at least 1 time.
Fill each cupcake liner 1/3 full, followed by a mini Reese’s cup gently placed on top. Fill the liner with more batter till about 2/3 full.
Bake for 14-17 minutes till an inserted toothpick comes out with a few moist crumbs.
Let cool in the pan for 5-10 minutes then remove and place on a wire cooling rack till completely cooled.
To make the frosting, in the bowl of a stand mixer fitted with a paddle attachment beat the butter and peanut butter till light and creamy.
Add the powdered sugar and beat till combined.
Add the vanilla and heavy cream and beat for at least 2-3 minutes till the frosting is soft and fluffy.
To make the ganache, in a microwave-safe bowl heat the heavy cream until steaming, about 1-2 minutes.
Pour chocolate chips in so they’re all covered and let sit for 2-3 minutes. Stir together till smooth.
To assembly, add your frosting to a piping bag fitted with an open star tip and generously frost each.
Cut remaining mini Reese’s in half and stick in the frosting. Drizzle the ganache over each cupcake and enjoy.