In a bowl of stand mixer fitted with paddle attachment beat the butter on medium-high speed until light and fluffy, about two minutes.

In a small mixing bowl, combine the hot water and cocoa powder. The mixture will be thick like a paste. Set aside.

In a microwave safe bowl, heat the chocolate chips until melted and smooth. Let cool slightly, but not all the way to room temperature.

Reduce the mixer's speed to medium and slowly stream in the melted chocolate, making sure to scrape down the sides of the bowl occasionally so the chocolate doesn't harden around the sides of the bowl.

Add the cocoa paste (cocoa and water mixture), followed the vanilla and salt.  Beat until incorporated, about 1 minute.

Decrease the speed to low and gradually add the powdered sugar. Once the powdered sugar is incorporated, add the black food gel and then beat for about two minutes. The color will likely be grey. Don't worry. Your next job is to be patient :)

Let the frosting sit for at least a couple of hours (even a full day is great) because the color will take awhile to process and it's best to let it sit rather than adding more and more coloring right away.

If you've let the frosting rest for plenty of time and it's still not black, add one more teaspoon of black food gel and let it rest a bit more.

If your frosting is too soft, cover it with plastic wrap and let it chill in the refrigerator a bit.