Preheat oven to 350℉ and prepare a muffin pan with cupcake liners. In a medium-sized mixing bowl, sift the flour, sugar, cocoa powder, hot cocoa mix, baking soda, and salt.
In a separate bowl, whisk together the eggs, heavy cream, extra-virgin olive oil, vanilla extract, and coffee (or water). Gradually add the dry ingredients to the wet ingredients and whisk until there are no more dry ingredients in the batter. Do not over-mix.
Pour the batter into the muffin tins 3/4 of the way full. Bake for 23-27 minutes. To check if the cupcakes are done, stick a toothpick in the center of the middle cupcake. If moist crumbs stick to it, the cupcakes are ready. If wet batter sticks to the toothpick, they need to bake a bit longer. Allow the cupcakes to cool completely before frosting.
Stick the mixing bowl you're going to use for the frosting in the freezer for 20 minutes before you make the frosting.