Place the butter, water and cocoa in a small saucepan and heat gently, without boiling, stirring until melted and smooth. Remove from heat and let cool slightly.
Add the cooked beets to a food processor or blender and puree until smooth. If it gets too thick for your machine to process, add a couple teaspoons of beer.
Beat together the eggs, buttermilk, beer, baking soda and pureed beet until frothy. Beat in the butter mixture.
Sift together the flour, beet powder and baking powder, then stir into the mixture with the superfine sugar.
Pour batter into Bundt pan and bake at 350ºF for 55-60 minutes, or until risen and firm to the touch.
Place on a wire rack to cool for 10-15 minutes, then turn out onto wire rack.
Once completely cooled, decorate with glaze.
Divide into generous servings and enjoy!
Glaze:
Add cream cheese and butter to the bowl of a stand mixer fitted with the flat blade and beat until light and airy.
Add the vanilla and beat to combine.
Gradually add the sugar until fully incorporated. Add salt.
Stir in the beer, a little at a time until desired consistency is achieved.
Pour over completely cooled cake and sprinkle with beet powder.
Notes
For a non-alcoholic cake, simply omit the extra egg yolk and replace the beer with an equivalent amount of buttermilk.