Preheat your oven to 350°F (175°C) and prepare two 9-inch round cake pans by greasing and dusting them with flour.

In a bowl, whisk together the flour, cocoa powder, baking powder, baking soda, and salt until well combined.

In a separate large bowl, beat the softened butter, granulated sugar, and brown sugar together until light and fluffy, about 3-4 minutes.

Slowly add the eggs to the butter mixture, one at a time, beating well after each addition, then stir in the vanilla extract.

Gradually add the dry ingredients to the wet mixture, alternating with the buttermilk, beginning and ending with dry ingredients. Mix until just combined and gently fold in chocolate chips.

Divide the batter evenly between the prepared cake pans and smooth out the tops with a spatula.

Bake for 35-40 minutes, or until a toothpick inserted in the center comes out clean.

Allow the cakes to cool in the pans for about 10 minutes before transferring them to a wire rack to cool completely.

Once cooled, place one layer of cake on a serving plate and drizzle a generous amount of caramel sauce over the top, followed by a sprinkle of chopped peanuts.

Place the second layer on top and repeat the process, finishing with a final drizzle of caramel and more chopped peanuts on top.