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1
Preheat oven to 350 degrees F. Grease a 13 x 9 inch baking pan with nonstick cooking spray.
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2
Place chocolate in a microwave-safe bowl. Transfer to microwave, and melt chocolate, stirring every 30 seconds, until melted, about 3 minutes. Set aside to cool.
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3
Whisk to combine flour, baking soda, and salt in a medium bowl. Set aside.
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4
In the bowl of a stand mixer fitted with the paddle attachment, combine sugar, eggs, and oil. Beat until well combined, about 2 minutes. Add beets, cooled melted chocolate, and vanilla. Beat until combined. Decrease speed to low and gradually add dry ingredients, scraping down the sides of the bowl as necessary.
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5
Pour into prepared pan and smooth top. Transfer to oven and bake until a toothpick inserted into the center comes out clean, about 25-28 minutes. Cool completely on a rack.
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6
Meanwhile, combine cream cheese and butter in the bowl of a stand mixer fitted with the paddle attachment. Beat on medium speed until fluffy and well combined. At low speed, gradually add confectioners' sugar, beating until entirely smooth and well-incorporated. Add vanilla and a pinch of salt. Beat to combine.
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7
With a spatula, top cake with frosting, swirling to create peaks and valleys. Cut into squares and serve.