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1
Cut a 22-inch-long piece of parchment paper and fold over the edges so it measures 8 inches wide; set it aside.
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2
Coat an 8-by-8-inch baking dish with butter and line it seam-side down with the parchment (the 2 long ends will hang over the edges).
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3
Be sure to fit the parchment as smoothly as possible into the dish, snugly creasing it into the corners; set the dish aside.
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4
Heat the measured butter and vanilla in a medium saucepan over medium heat until the butter has melted.
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5
Stir in the brown sugar and cream and bring to a full boil.
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6
Continue boiling, stirring constantly, for 2 minutes more.
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7
Stir in the peanut butter until smooth.
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8
Remove from the heat and set aside to cool for exactly 5 minutes (it will form a skin).
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9
Immediately transfer the mixture to the bowl of a stand mixer fitted with a paddle attachment.
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10
Turn the mixer to medium-low speed and gradually add the powdered sugar until all of it is incorporated (the mixture will look slightly curdled and sandy).
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11
Quickly scrape the mixture into the prepared baking dish and pat into an even layer.
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12
Use a paper towel to blot the excess oil off the surface.
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13
Sprinkle the peanuts evenly over the top.
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14
Fold the excess parchment paper over the fudge.
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15
Using a measuring cup, press down on the parchment to press the peanuts into the fudge and evenly flatten the surface.
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16
Uncover the fudge and let it sit at room temperature until completely cooled, about 2 hours.
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17
To remove the fudge from the pan, grip the parchment hanging over the edges and pull it out of the dish (if the fudge cracks, just press it back together).
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18
Transfer it to a cutting board and, using a long knife, cut it into 64 (1-inch) pieces, wiping the knife clean between slices.
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19
Though best eaten right away, the fudge can be stored at room temperature in an airtight container for up to 3 days.
