Preheat your oven to 425 degrees F and lightly spray a donut pan with non-stick spray. Set aside.
To a large bowl, all all of the dry ingredients.
Add in the buttermilk, beaten eggs, melted butter, and vanilla. Stir until just combined. Do not over-mix the batter or your donuts will be dense and tough!
Pour the batter into a large zip top bag and snip the tip to easily pour into the donut pan. It will fill 12 donut wells evenly.
Bake for 7-9 minutes or until golden brown.
While they are cooling, to a microwave safe bowl, add the chocolate chips and coconut oil and microwave for 30 seconds, stir, then microwave another 30 seconds (as needed) and stir until smooth.
Dip each cooled donut into the melted chocolate and immediately top with sprinkles.
If you don't have buttermilk, which I often don't, you can easily make some with this hack - to a measuring cup, add 1 tablespoon lemon juice or vinegar then finish filling to 1 cup with milk. Let stand for 5-10 minutes to let milk curdle. Voila - buttermilk.
Grocery stores also carry powdered buttermilk that you reconstitute by adding water!
The biggest mistake people make with this recipe is over-mixing the batter. Stir it only until everything is combined. Then stop! Otherwise your donut will be dense and tough.