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Preheat oven to 350F. Line the 4 corners of a muffin tin with paper liners.
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In a mixing bowl, use an electric mixer to beat together canola oil, sugar, buttermilk, egg white, red food coloring, vanilla, and vinegar.
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In a separate bowl, whisk together the flour, cocoa powder, baking soda, and salt. Slowly add the dry ingredients to the wet ingredients and beat until just combined. Fold in the mini chocolate chips, if using.
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Divide the batter into the 4 prepared muffin cups. Bake 20 - 22 minutes or until a toothpick inserted into the center comes out clean. Transfer to a wire rack to cool completely before frosting.
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To make the frosting, beat together all ingredients until no lumps remain.