Whisk together milk and powdered peanut butter until smooth and completely combined. Divide between two cups.

Combine the hot espresso and sugar in a tall glass until sugar is dissolved. Using a whisk, hand mixer, or milk frother, whisk the mixture until frothy. Pour over peanut butter milk.

Place chopped chocolate into a microwave-safe bowl. Microwave on high for 1 minute. Stir and continue microwaving for 30-second intervals until chocolate is melted and smooth.

Drizzle chocolate on top of the whipped coffee and sprinkle with crushed peanuts.