Butter a 9 by 13-inch baking pan. Preheat oven to 350℉.
For the Cake
In a large mixing bowl, stir to combine white and brown sugars, vanilla extract, and eggs. Add cocoa powder and oil. Stir again to combine. Set aside.
In a separate mixing bowl, whisk flour, baking soda, baking powder, and salt to combine.
Stir one-third of the flour mixture into to the chocolate mixture. Add one-third of the milk mixture and stir to combine. Repeat, alternating between flour mixture and milk until everything is incorporated.
Add the boiling water and stir to create a smooth and loose batter.
Pour the batter into your prepared baking dish and use a silicone spatula to spread it into an even layer.
Bake in preheated oven for 28-30 minutes, until the center is set and a toothpick inserted into the cake comes out clean. Remove from oven and let it cool in the pan on a wire cooling rack.
Make Fudge Frosting
In a medium saucepan over medium heat, melt the butter. Add the cocoa powder and whisk to combine.
Add cream and chopped chocolate. Whisk to combine and continue heating until everything has melted.
Add the powdered sugar and whisk for about 2 minutes, creating a smooth consistency.
Take frosting off the heat and pour into a bowl. Chill in the refrigerator for 1 hour, stirring every 20 minutes.
When the cake is cool and the frosting is cool and thick, spread the frosting over the cake. Cut the cake into 12 equal slices. Serve and enjoy!
Notes
Bring all cake ingredients to room temperature before using. This makes the cold ingredients easier to incorporate without over mixing the batter.
For a softer cake, feel free to substitute cake flour for all-purpose flour.
Keep heat below medium to prevent burning the chocolate
Mixing: You can mix the batter with a whisk, a dough whisk, or an electric hand mixer. Just be sure not to over mix the batter.