Baked Chocolate Doughnuts

In a small saucepan over medium, heat the milk and butter until the butter is just melted. Set aside until cooled to between 95F and 105u0b0F.
Once the milk mixture has cooled, transfer to the bowl of a stand mixer. Add the yeast and let stand until bubbly, about 5 minutes.
Meanwhile, sift together the flour, cocoa powder, and salt,.
When the yeast and milk are ready, add the flour mixture, sugar and eggs. Using the mixer's dough hook attachment, mix on low speed until the dough comes together. Increase speed to medium and mix for 3 minutes.
Transfer the dough to a clean bowl, cover with as towel and let rise for 1 hour.
Coat 2 baking sheets with cooking spray.
Transfer the dough to a lightly floured sruface and roll out to 1/2 inch thick. Use a 3-inch round cookie cutter to cut the circles, then use a 1-inch round cutter to remove center holes from each.
Arrange the rings and holes on the prepared baking sheets. Cover loosely with a towel and let rise for 30 minutes.
Heat the oven to 350u0b0F
Bake the doughnuts for about 20 minutes, or until they feel slightly firm to the touch. The doughnuts will not change color. Transfer the doughnuts to a wire rack to cool at least 15 minutes before glazing.
To make the glaze, in a small saucepan over low heat, melt the butter and chocolate. Stir until fully melted, then remove from the heat. Stir in the powdered sugar and water. Let cool slightly, then dunk doughnuts into it.